Have you been searching for homes for sale in South Arlington VA but just haven’t been able to get one of these puppies under contract? In this post we will list out 3 easy competitive buying tips for buying your dream home this year.
- Do your homework. But I thought we were done with school!? No not quite yet. The more educated you are about the market and the home buying process in general the more decisive you will be and the quicker you’ll be able to move on a home for sale in our popular South Arlington neighborhoods. This means fully understanding the contract paperwork even before you submit your first offer.
- Be flexible. Not just good for the body, flexibility in a real estate transaction can put you at the top of the pile in multiple offer situations. Seller’s certainly are concerned with the offer price but almost just as important is the additional terms laid out in the contract like inspection periods and closing date. If you’re able to accommodate a Seller’s ideal closing date while the competition can’t, you may just find yourself the next owners of that home!
- Have your home inspection for informational purposes only. This final tip is reserved for only the most competitive of situations and not to be taken lightly. It’s important you fully understand and are comfortable with what having a home inspection for informational purposes only means. Basically what it comes down to is you are still going to have a home inspection but you will not be able to ask the seller to address any issues that may come up in the inspection. At this point you still have the option to kick out of the contract so if something horrific comes up you’re not stuck with buying the home. The benefit to the seller is they can rest assured they will not be asked by the buyer for any money or to fix anything.
Competition in South Arlington for popular neighborhoods like Shirlington, Fairlington, and Penrose remains high. In fact competition across the entire DMV will remain high throughout the year. The reason is, low inventory in the market creates a sellers market while continued low interest rates is spurring more and more buyers to enter the market so there is more competition for fewer homes for sale.
The good news is these are only 3 of many competitive strategies a knowledgeable Realtor® will have in their arsenal. If you’re just starting to think about buying a home, please don’t hesitate to contact me. One of my favorite things is having that initial conversation and educating folks on what’s going on in the market and what the home buying process looks here in South Arlington.