As the Southern California real estate market makes a rebound, buyers are finding themselves in a different situation than last year. Some of you may still be looking for that perfect gem because every time you submit an offer it gets declined. Well don't sweat my pets! We have compiled a list of the top five things you can do to improve your chances of purchasing a home.

Hire A Proactive Real Estate Agent

A seller's market is different from the short sale and bank owned market. In a strong real estate market a home can have multiple offers within days of going up for sale. The process tends to move quicker and speed is critical. Therefore, you have to be prepared to make a snap decision and know what you are looking for.

Build a relationship with your agent, it is their job to find you what you want. An agent who constantly combs the marketplace and networks with other Real Estate professionals is extremely important. Contact Team SchuCo today for your Buyer's Needs Analysis, see our Interview for Q&A.

Be Prepared and Get Pre-Approved!

Part of getting prepared is making sure your financial house is in order! Set aside a savings for unexpected events and get pre-approved. Don't confuse pre-approval with pre-qualified!! There is a world of difference in these terms that can make or break a submitted offer. See Team SchuCo's Real Estate Lending Handbook for free education on the home loan process. 

It is ten times easier to look for a home when you know how much you can afford comfortably. This will help narrow down neighborhoods and set the standard for looking at homes and amenities that fit your price range. There is nothing worse than looking at a house that you simply can't afford, trust me that's the one you will fall in love with. Why put yourself through that emotional roller coaster of wanting something you can't have?!

If this is your first time buying a home then get to know the process, educate yourself. Read this article for tips on How to Cope with Stress During the Home Buying Process.

Make a Competitive Offer

Keep in mind that your offer is not the only one on the table in a seller's market. When the tide changes it is important to know that paying the closing costs, paying market value, and being flexible is imperative! Put your best foot forward.

You want to make your offer as 'clean' as possible! Don't ask for them to pay the closing costs, home warranty, lender fees, transfer fees, etc. When you ask the seller to credit these costs and another offer doesn't, this will put you at a disadvantage. You should also expect to pay market value. If your bid is too low this could ruin your chance at getting that house. Being flexible could mean coming up with a larger down payment to not requesting credit for repairs.

Include your pre-approval letter with your offer. Consider offering an escalation clause that will outbid any other offer up to a given price. Cash talks! If you are able to pay "all cash" then say so. A transaction that is not dependent on lender conditions is more attractive to a seller. If you feel comfortable shortening inspection  periods or closing within 30 days or less then state that in your offer.

Try and put yourself in the seller's "odds are" when making an offer, would you accept it?

Write an Offer Letter to the Owner

In the digital age of e-mails and computers there is something to be said about handwriting a personal letter. So, for those of you up to the challenge, get some nice stationary, pre-draft your love letter to the owner and hand write that baby out! ***major perk working with Team SchuCo, have you seen my custom cards?***

Make it compelling and emotional. Explain to the seller why their house is the one you want to make your home. Include specific features and amenities that you love about the house and community. Mention your commitment to the house and willingness to do "whatever it takes" to land it. Keep it short and sweet.

Don't Give Up!

In a Seller's Market the chances of your offer getting rejected increase. Try not to take it personally and be prepared for disappointment. Keep in mind the seller is making choices based on what is best for them. Our personal motto goes "everything happens for a reason", so take it as a blessing in disguise and keep it moving. Don't give up!

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