The Dreaded Rejection
If you are a buyer in Cheyenne right now, you may have noticed that the market is hot and competitive. Inventory is down, prices are up, and nice houses have multiple offers on them before they even hit the MLS.
Multiple offers of course means that someone is getting left out in the cold each time. Sometimes that someone is you. Here are three things to do when it happens to you:
1) Make a Game Plan: This is not a fly by the seat of your pants kind of market. You can't wander into an open house on a sunny Saturday, have some coffee, and fall in love with your new kitchen. That kitchen will be under contract with someone else before the sign is in the ground.
If you are serious about purchasing a home right now you need to have a game plan, otherwise you'll be in a for a lot of disappointment. Your Realtor is a great resource for this. If they are a strong player in the market they will have their pulse on new and upcoming listings.
Additionally, you should know your "must haves", "wants", and "no go" items. Are you willing to have 3 bd instead of 4? Do you absolutely have to have a dog door? It isn't picky to say absolutely or absolutely not. It is necessary. Make the choice, commit to it, and communicate it to your Realtor. That way they won't hesitate to send you things that you might just fall in love with.
2) Make a Decision: This is the money aspect of your game plan. How far are you willing to go for the house you want? If the house is a compromise, does that number change? You can save yourself a lot of heartache by going in knowing these things.
When the seller says that they will only pay your closing costs if you come up on the purchase price (OVER ASKING) by $5000, you should be prepared to say yes or no. The only wrong answer is one that makes you uncomfortable.
In a hot market you don't typically have time to sleep on the decision.
3) Make a Move: Going back to the idea of sleeping on a decision- if you love the house DON'T DO IT in this market. The Walton Homes Team has no interest in pressuring you to make decisions. That's not our job. Our job is to make sure you get what you want, but we can't always do that if you don't know.
In a crazy market like the one we are in right now it is important to go into each and every showing with the thought "If this is the house, I am ready to try to buy it."
BONUS CONTENT: Make sure you have your lending in order! Sellers will be more inclined to accept your offer if they know you qualify. If you need recommendations for a lender we know of some great local people. Just reach out and ask!
We wish you the best in your home search and if ever you are in need of the Dream Team to make your dream come true, give us a call! 307-752-4176.