In recent months, the competition has been heating up on the Knoxville real estate market. For those buyers searching for a Knoxville home for sale this summer, this means there is more competition than there has been in recent years. With Knoxville home prices rising and mortgage rates rumored to increase, many Knoxville buyers are hitting the market this summer in hopes of finding the right Knoxville home for sale. If you’re shopping for a home this some, here is how to beat the competition in a bidding war.
Be Ready To Move Fast
One thing that will help you stand out in a bidding war for the perfect Knoxville home is the ability to move fast. It is important that that when your find the perfect Knoxville home for sale, you have done the due diligence and are able to make a respectable offer fast. You will have also done your due diligence to prove that you can secure a mortgage. Sellers want to see that you are a solid buyer and that you can close quickly.
You Have Your Financial Ducks In A Row
One thing that can help you stand out in a Knoxville bidding war is having your finances in order. Oftentimes, sellers prefer to see that a buyer is pre-approved, instead of just pre-qualified. The pre-approval process is much more rigorous and shows a seller that you can secure financing. Make the extra effort and be pre-approved before starting your Knoxville home search, if you end up in a bidding war, it can help make you stand out.
You Make The Sellers Life Easy
When it comes to beating the competition in a bidding war, it is not always price that is the deciding factor. While prices is a large factor, it is not always the only factor. There can be other things that make an offer appealing to a seller like paying your own closing costs, closing quickly, do inspections early on, among other things. If you’ve found the perfect Knoxville home for sale, be sure to think of what aspects of an offer could make the seller’s life easier, you may just be able to win the bidding war by taking these things into account.