How to be prepared for home-buying season

The spring and summer buying season always means a surge in the number of those on the hunt to purchase a home. And even though Orlando has recently welcomed increases in inventory, many prospective buyers are still having trouble landing a home. What can potential buyers do to increase their chances of securing that dream home?

First off, it’s important that you’re ready to quickly make a solid offer. Things to consider:

• Have your finances in order: Know how much house you can truly afford, repair any credit issues, have your down payment in hand, and delay major purchases.

• Get pre-approved for a mortgage, over and above getting pre-qualified.

• Determine in advance which home features are “must-have” and which features are “nice-to-have.”

• Know what contingencies you are willing to eliminate from your offer.

• Hire a Realtor to help you locate, select, and negotiate.

Making a clean offer with as few contingencies as possible can also help buyers who find themselves competing with multiple bidders. The best offer isn’t always the one with the highest price. It’s often the one with the fewest hassles and restrictions. A Realtor can suggest actions such as eliminating or reducing specific contract contingencies like pre-offer inspections to make their buyers’ offer stronger. That’s just one example of how working with a Realtor can benefit you during the home-buying process.

Learn more by visiting orlandorealtors.org and clicking on “Consumers” and then “For Homebuyers.”