If You Want to Buy a House in Atlanta, Avoid These 6 Mistakes

If you want to buy a house in a hot seller's market like Atlanta, there are six major mistakes you should try to avoid.

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1. Not starting with your strongest offer: You have to be prepared to put your best foot forward to be taken seriously by sellers. I understand it's ingrained in all of us to try to get the most and pay the least in a deal, but if you don't get the property you want, it's a waste of your time.
 
2. Over-analyzing the purchase price: In a seller's market, this can be just as risky as impulsively buying a house because you might end up with no house at all. Once you talk to a mortgage lender and determine the price range you want to buy in and the area you want to live in as well as the type of home you're looking for, you need to jump on the right house when it comes along.
 
3. Working with an inexperienced agent: Buyers need every little bit of help they can get in this seller's market, so you want to work with a seasoned professional who sells more than one or two houses a year. You want an agent with a track record of helping their clients get exactly what they want.

You have to be prepared to put your best foot forward to be taken seriously.

4. Not being pre-qualified or pre-approved for financing: With inventory as low as it is and homes selling so quickly, we suggest that our clients go through full underwriting approval on the front end before you even find a house. It speeds up the process after going under contract on the property so you can move quickly through the due diligence period, which can only be done if you've gone through the pre-approval process.
 
5. Not being prepared for a bidding war: Bidding wars happen more and more now than we've seen in the past, so we want to be sure you're ready for it. A bidding war totally changes the game as far as time frames, contingencies, terms, conditions, and the dollar amount that go into your offer. You might also want to shop a little below your budget in case a bidding war takes place and the price comes up. We don't want to bid you out of your pre-qualified amount.
 
6. Not being able to learn from mistakes: You should be able to both acknowledge that you've made a mistake and learn from it. There's no shame in realizing your offer wasn't accepted; the issue comes in when you're not willing to adjust your strategy to win the next time you make an offer.

If you have any other questions about the home buying process or anything at all relating to real estate, give me a call or send me an email. I'd be glad to help you out!