Did you know that the busiest times of year in the residential real estate market are spring and summer? Whether you’re looking for Indian Wells real estate or homes in another part of Palm Springs, competition can get a little fierce this time of year, so you may want to take a few steps to help you stand out from the crowd of other buyers.
Read on for some excellent tips to help you get an edge on the competition.
1. Get your team in place. Get started with the process of finding a realtor as soon as possible. Ask friends and colleagues for referrals and start interviewing immediately.
2. Get pre-approved. Meeting with a lender and getting pre-approved offers you several advantages. You’ll be done with a process that can be annoying when you’re ready to make an offer, you’ll know the exact amount of the loan you have to work with and buyers will know you’re serious.
3. Determine your down payment. An ideal down payment is typically somewhere around 20 percent of the cost of the property. Start saving now or getting your financial resources in place so that you can plan your exact budget for the purchase, as well as your monthly household budget once you’ve already moved into your dream house. When planning for the down payment, make sure to remember to factor in closing costs and other associated purchases. Closing fees tend to be somewhere between two and seven percent of purchase price.
4. Be ready to go. When you work with a good realtor, they will review new listings constantly and send you those that fit your criteria. When you see a piece of Indian Wells real estate or home in another part of Palm Springs that you’re interested in, be ready and willing to view it as soon as possible—and prepared to make an offer if it’s as great in person.