If you’re like most buyers, you’re looking to get the best deal on your next home purchase. But in our hot real estate market, that’s often easier said than done! With these 5 strategies, you’ll be prepared to navigate the market and snag an unbeatable deal on your dream home.
Watch for High "Days on Market" Listings: Keep an eye out for homes with a high "Days on Market" (DOM) count. These properties may have been on the market longer than usual due to various reasons, such as pricing issues or minor flaws. Most buyers are scared off by these listings as they assume the homes are “bad.” By targeting these listings, you can capitalize on the seller's urgency to move the property and negotiate a favourable deal with less competition from other buyers.
Embrace the 'Sold As Is' Label: Don't overlook listings labeled "sold as is." While these homes may require some TLC, they often come with a discounted price tag that reflects their current condition. By being open to properties in need of renovation or repair, you get the opportunity to customize your home while saving thousands on the purchase price.
Seek Out Canceled Listings: Watch the market for canceled listings, which can signal a motivated seller ready to make a deal. With reduced competition from other buyers, you have a fantastic opportunity to negotiate strong terms and secure the property at a lower price than originally listed.
Hire a Buyer's Agent Who Goes to Bat for You: Perhaps the best thing you can do is to work with a buyer's agent who will advocate for the best possible deal on your behalf, whatever it takes! To find this agent, take the time to interview at least 3 agents and focus on their negotiation strategies and track record of successful buyer negotiations.
Stay Flexible and Patient: While hunting for deals on the market, focus on staying flexible and patient. The perfect opportunity may not present itself immediately, but by keeping your eyes open and staying adaptable, you'll increase your chances of finding a hidden gem at a great price.
Ready to find your next amazing home with the best deal possible? With a combination of diligence, flexibility, and expert guidance, you'll be well-positioned to unlock the best deals in today's real estate market. Contact me to get started.
