In just a few short months the active spring home buying season will be here. If you are looking for a Windsor property for sale, and desire to be in a home quickly, then there are certain steps to take to ensure that you close your deal on a tight deadline.
Perhaps you have a job transfer. Maybe you are moving into a new area and want your children settled into their schools before the end of the term so they can make new friends. Regardless, there are home buyers out there you often contact our offices and say they need a home immediately. Like, yesterday.
In these cases, it’s always a mad dash to find the best possible home in a quick amount of time. As a buyer, you need to keep an open mind and be ready to make some quick decisions. New homes are popping up on the market every day, and this spring we are anticipating a busier time than ever, particularly since the real estate market has improved and sellers who have considered putting their homes for sale, are now testing the waters.
1. Start looking online
The minute you know that you will be moving, start looking on the Internet for homes. Research neighbourhoods, visit community message boards and get an idea of what type of home you are looking for. Start pairing down your options so you can create an efficient plan for visiting homes.
2. Get Pre-Approved
Securing financing before settling on a home is the best possible step you can take when looking quickly for a home. I recommend this step for anyone looking for a home despite their time frame, but when under a deadline, it is critical to have this piece of paper for a few reasons:
You don’t waste your time looking at homes you can’t afford.
In a bidding war, sellers often select the buyer that has their financing in order.
If you find a home, then wait to get approved before making an offer, you can lose the home if seller accepts another bid.
3. Look for Motivated Sellers
Ask your real estate agent to find a list of homes where you know the buyer will be motivated. Maybe the sellers are facing financial difficulties or their home has been on the market for several months. Maybe they are making two mortgage payments. Regardless, motivated sellers are likely to agree to a quick escrow and negotiations often run smoothly. Also, don’t forget about vacant homes. Not only are the sellers usually motivated, but it also allows a quicker move in date.
I advise my clients to make a wish list and a must have list when looking at homes. But when buying a home quickly, a buyer needs to prioritize more than other buyers simply due to the fact that making a sacrifice will allow you to find a home more quickly. A list with a shorter amount of requirements means you will find a home that meets your needs in the time frame you desire.
5. Hire A Good Agent
A well-connected real estate agent who knows the market and neighbourhood is a valuable asset when looking for a home in a short amount of time. They will keep the search going, allow for a smoother transaction, and help you find properties that meet your needs. Not only that, they can refer you to mortgage bankers, inspectors and insurance agents. They can also keep you focused when it gets stressful.
6. Be Available
Make sure you are available to view homes, return phone calls and keep on top of the information your lending agent will need. Stay in contact and don’t put off any requests that are needed from you.
7. Don’t Skip Necessary Steps
Don’t ignore inspections or other steps in order to save time. This could cost you thousands of dollars and cause an incredible amount of stress. It’s not worth it. Know that in many home sales, things can go wrong. Maybe a sale won’t work out the way you had hope. When this happens, take a deep breath and have a Plan B ready to go. Maybe that means having a back-up property ready to go. Just know that when you are running against the clock, it’s important to stay on a clear path and not get distracted.
The good news is that looking for homes is easier than ever before thanks to the Internet. You can view properties at any time of the day and it can give you a great head start to successfully close the deal quickly.