There is a high demand for homes for sale. With the “COVID-19” rules we generally will not allow overlapping showings on homes that are for sale. That means that every available time slot to tour a home has been taken.
In other words, if you are buying a house you may need to compete with many other home buyers just for the opportunity to see the house in person.
As a result, buyers have been making offers on houses based on the photographs. They usually make the offer inspection contingent and tour the home during the inspection period.
If you just noticed that the house went on the market so did several other buyers. If the house looks like it is a perfect fit it is also a perfect fit for many other potential buyers which is why you will need to act quickly.
The current seller’s market is challenging for buyers. The very best advice I can give is that if you have to buy a house now plan on making offers on a few or several houses as they come on the market. Be persistent and plan on making offers until one works out.
If there are multiple offers you will need to go over the asking price. If you have some cash offers with larger down payments like 20% or more are more attractive to sellers. Being flexible on closing dates and on other terms also helps.
Buying a house in December or January may be easier than buying one now. When the pandemic is finally over we will probably see more homeowners who want to sell.
Also, see Getting ready for the 2019 home buying season (this applies to the 2020 home buying season and the 2021 home buying season)
The next home buyers market will probably happen sometime after 2025.
Working with a buyers agent
All about agency. Working with a buyer’s agent who is not the listing agent for the house that is for sale is one smart way to successfully purchase a home.