If you're buying this fall, you're going to want every advantage you can get, especially when you find the perfect home. In today's seller's market, standing out as a buyer is crucial. Multiple offer scenarios and bidding wars are the norm due to a low supply of homes for sale and high buyer demand. 

If you're considering buying a home this year, I have five tips to make your best offer.

Know Your Budget 

Knowing what you can afford is a critical step to your success as a home buyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. The pre-approval is going to allow you to look for homes with greater confidence and it demonstrates to the seller that you're serious.

Be Prepared to Move FAST

Speed and the pace of sales are contributing factors to today's competitive housing market. According to the latest existing home sales report from the National Association of Realtors, the average home is on the market for just 17 days. When homes are selling fast, staying on top of the market and moving quickly are key.

After you've worked with your agent to find the home that suits your needs, they're going to help you put together and submit your best offer as soon as possible.

Choose a Real Estate Professional

The success of your home buying journey largely depends on the company you keep. Be sure to select experienced, trusted professionals who help you make informed decisions and avoid pitfalls. Agents are experts in the local real estate market. They're going to have insight to what's worked for other buyers, and what sellers may be looking for in an offer. 

It seems simple, but catering to what a seller needs can help your offer stand out. When you work with a trusted real estate professional, they're going to lead you to victory. No matter what the housing market looks like, rely on a real estate advisor. 

Craft a Strong Offer

Always make sure you’re making a fair offer. In the past, offering at or near the asking price was enough to make your offer appealing to sellers. However, in today's market that's not the case. According to the National Association of Realtors, 50% of offers are above list price.

This is such a competitive market, and emotions and prices can run high. Having an agent to help craft a strong fair offer is critical in these situations. Your agent is going to be able to help you understand the market value of homes, recent sales trends, and buyer demand. 

Consider Everyone’s Interests

When crafting your offer, you're going to want to keep your interest and the seller's interest in mind. Your realtor is going to help you consider which levers or contingencies you should waive.  

While your agent will give you specific advice for your situation, I do think there are some contingencies you shouldn’t wave as a rule. You should resist the temptation to waive the home inspection contingency, especially in a hot market. If the home is being sold as is, that means the seller's not going to pay for repairs. Without inspection contingencies, you can be stuck on a contract on a house you can't afford to fix.

It's a competitive housing market, and it's more important than ever to make a strong offer. Let's connect, I'll make sure your offer rises to the top.