Adopt These Measures If You Want To Buy A House Fast
The home buying process can take as long as several months or as short as one month. You have a part to play in how long the purchase process lasts. If you need to buy a house fast, then the conventional home buying tactics may not work for you. You need to prepare well and be on your toes throughout the process and avoid unnecessary delays. Here are some of the specific tips to employ:
Have Your Paperwork in Order
There are documents you will need irrespective of the house for sale. Gather such papers and make sure they are in order as early as possible; don't wait to identify your target house first. That way you can identify discrepancies early on and rectify them so that that they can't affect your purchase process later on. Examples of documents you might need for the purchase include paystubs, tax returns, bank statements, titles or deeds of assets, business statements (if you own a business), among others.
Get Loan Preapproval
Even with all the documents at hand, you may still have a hard time getting your mortgage approved when the times come for it. You don't want to lose a perfect property because your mortgage processing is held up. Therefore, start the mortgage process early enough and get it preapproved so that you can move straight to the closing process once you are through negotiating for a house.
Come In Strong
A common negotiation tactic is to start with a low bid and negotiate upwards so that you don't pay a cent more than the seller is willing to accept. Unfortunately, this can place you at a disadvantage, especially if there are competing bids for the property. For example, the seller may think that you are not motivated enough and ignore your bid. Therefore, if you want to get the seller excited and get things moving, make a strong bid so that the negotiations can be short and you can conclude the purchase within a short time.
Don't Let the Seller Know You Are in a Hurry
Lastly, you should not show your hand by doing anything that might indicate to the seller that you are in a hurry. Making such a mistake will place you at the seller's mercy, which may lengthen the process. For example, the seller can engage in delaying tactics in a bid to force you to accept an unnecessarily high offer.
The above tips should help you conclude the purchase process in the shortest time possible. Again, it cannot be stressed enough that the only person who should know that you need a house fast is your real estate agent.