Shopping for a home in North Texas isn’t always the exciting, streamlined process you would like it to be. As experienced Flower Mound realtors, we are highly aware of the obstacles and challenges most potential home buyers encounter. Why would it be difficult to shop for a home in the Dallas area? Two primary reasons – the inventory of homes on the market is low, and the demand is huge. This means you need to have an advantage over your competitors!
Here are our tips for finding the ideal property before they’re all snatched up:
Make it a point to be well-qualified. Are you able to make a down payment of about 20%, and is your credit score good (at least mid 700s)? Have you been employed in your current career for a substantial amount of time? Being well-qualified is the best way to compete against another potential buyer who is ready to make a cash offer. This brings us to . . .
If you can at all, make an all-cash offer. When you have the cash and are ready to buy without barriers that can slow you down (waiting to see whether the bank will approve your loan, borrowing the down payment from family members, etc.) sellers are quick to seal the deal. After all, who doesn’t want a process that’s hassle-free and done in an instant? If you can offer cash to the seller, by all means do it – IF it is the home of your dreams.
Discover homes before they come on the market. When you know which properties are about to be listed BEFORE they actually go up for sale, it gives you a big advantage. Keep in close contact with your real estate agent who may know of homes that will soon hit the market, or search sites such as Zillow or Realtor.com that have features that let you search for not-yet-listed properties.
Write a compelling letter to the seller. Sellers are often persuaded by personal letters that reveal a potential seller’s deep-down feelings about a home. Let the seller know that the home is perfect for your family, brings back good memories of your childhood, or is just the home you’ve been searching for. Sometimes writing a letter puts your name first and foremost in the mind of the seller when multiple offers have been submitted!
Buying a Flower Mound home, a highly popular and sought-after market, can be stressful and more complicated than you would like. At Team Nelson, our Dallas realtors are dedicated to making the process as easy as possible for you. Let us help you find the home that was meant for you and your family today!