Number one: After you connect with a realtor, the first thing to do is connect with your bank or a mortgage specialist. Find out how much your bank is willing to lend you. The market is very competitive and wherever you're planning to buy, there is a good chance you will be in a situation where your offer is up against multiple others and offers are going in quickly. That means you need to know the maximum you can spend on a house (and the owner needs to know you are good for the money, too). Make sure you have a good, open line of communication with your bank and, ideally, mortgage pre-approval so you know financing is going to be smooth sailing.
Number two: I mean it when I say things could start to go really quickly. Most places getting listed right now have offer review periods of three to four days, which means that's how long you have – after the home appears on the market – to see it, decide on an offer and submit it. If you want to see a home, there can be no "let's book a viewing next weekend, because I'm going camping this week." You need to get in as soon as possible, because you probably only have two or three days to get everything else ready and submit an offer. (This is why having your mortgage pre-approval is so important. You don't want to be starting that from scratch and trying to get it done inside two days.)
Number three: When it's time to submit your offer, your realtor is going to help you "clean it up." That means making your offer as attractive as possible, which doesn't rest on the price alone. Of course, you want your offer to be financially attractive, but there are other things you can do, too. Many offers involve conditions related to financing, inspection, or even things like the condo bylaws. The more conditions you can remove – while still ensuring your own needs and interests are taken care of – the better. A realtor can walk you through that process and come up with an offer that gets the balance right and will look good to a seller.
If you're doing all of this for the first time, it might feel daunting. "You're telling me I'm going to have three days to make these huge decisions?" Well, that may be the case, yes. But a realtor can put you in a great position to feel confident making those decisions when they come along. Talk to me and we can get you started so that when you see the right home for you, the process is as stress-free as possible.
