Buying a Home in a Competitive Market

Buying a Home in a Competitive Market  

Buying a home is a big decision. You don’t want to rush it, but there’s a heightened sense of urgency to act quickly when homes are selling fast. Here are some tips for navigating a tight housing market:

Work with an experienced real estate agent. Save time and stress by working with an agent who knows how to compete in a fast-paced market.

Get pre-approved for a mortgage. Having an approval letter puts you in a strong position to make an offer on a home.

Make a strong offer. A lowball offer isn’t likely to win the home you want in a competitive market.

Keep it simple. Sellers may be more likely to accept a "clean" offer that doesn’t have contingency clauses or demands to make changes to the home.

Prepare for a bidding war. Decide on your maximum bid ahead of time, so you don’t get carried away in a bidding war.

Put up more earnest money. Increasing the amount of earnest money shows you’re serious about the deal (and you get it back if your offer is not accepted).

Be flexible. Flexibility with move-in dates and other details could make a seller more willing to accept your offer.

Is a new home in your future? CRCU Mortgage is here to help. Start the mortgage pre-approval process online at