Now can be a great time to be a buyer in most major markets. Especially if they can endure the rising interest rates. The market is softening and sellers are willing to negotiate more. Sellers are pricing their homes more competitively now.
Homes are taking a bit longer to sell which can be good news for you as a potential homeowner. This means that buyers don’t need to make hurried decisions now and can take their time…relatively. Even in these current conditions, it is very important to make sure you cover your bases and do what’s necessary to place yourself in a great position for your offer to be accepted by the seller.
First, I would find a great Realtor that has extensive knowledge about the neighborhood you are looking to buy in. They can typically point you in the right direction for my second suggestion, which is to get a loan pre-approval letter from a bank. Having this letter will be essential in presenting a strong offer to the seller. They will not take you seriously in most cases unless you have this.
Thirdly, if you truly like the property, don’t make an offer that will offend the seller. Don’t low-ball. Place an offer that you (with help from your Realtor) feel the property is worth after doing your due diligence.
Upon implementing these three recommendations, you should be in a great position to get an offer accepted into your dream home. Happy house hunting!