How to stand out as a serious buyer in a competitive market

With the real estate market of Northern Virginia becoming more active every day, there is a constant surge of property in demand. If you're a prospective buyer, CLICK HERE for a Full Home Search, or if you're interested in placing your property on the market, obtain a Free Home Value Report RIGHT HERE. For any other questions about current market conditions or the value of your property, contact me at (703) 909-3939.

How to stand out as a serious buyer in a competitive market
In a competitive market with a very small amount of inventory, like the one here in Northern Virginia, you need to stand out as a buyer in order to get the homes that you desire.

One of the ways in which you can accomplish this would be to make a confident and trustworthy offer on a property to prove to the seller that you're serious about purchasing a home.

While most buyers get a pre-qualification letter, we require our buyers to get a Pre-approval letter with a direct under-writing report. This essentially turns you into a cash buyer, and this is much more desirable in the eyes of a seller.

You will also want to put down a large Escrow payment in order to show good faith. The more that you put down, the more trustworthy you will appear to the seller. Shoot for $5,000-$10,000 depending on the purchase price, not $500 or $1,000.

Also, be careful with appraisals because a property is really only worth the amount that the buyer is willing to pay for it. In my experience, two different appraisers can have wildly different prices for a property. If you waive the appraisal and agree to cover any shortfalls, you will become a much more desirable buyer.

Hopefully these tips will help you to be competitive in our real estate market here in Northern Virginia. If you're serious about buying, my best suggestion to you would be to contact me and my team of professionals. We can help guide you through this crowded market.

Thanks for tuning in!