Top Ten Tips for Buying a Home in a Weekend

Written by New San Antonio Homes   

Buying a Home in a WeekendDid you just get a big job transfer, or do you just want to save time and money on your next home purchase? No one wants to spend months agonizing over a big decision like buying a home when you can do it right and get it done in a weekend. It may seem like an exaggeration, but it's not. Yes, you can do your homework and make an offer in a weekend if you play your cards right.

Why would you want to do a fast real estate transaction? First, it is often the best route for buying a home out of town. If you are relocating to another city that requires you to fly in, compressing your home purchasing process is a big plus.

Second, being committed to a fast transaction clearly tells the seller you are serious. He or she will have much more confidence in your offer and be much more willing to accept it as a good faith offer. A quick deal can often make the difference between two competitive offers, even if yours is for less money.

Here are the top ten tips for purchasing a house in one weekend:

1. Establish a relationship with a local agent

This includes making contact with an agent and having sufficient conversation to know that you can work together efficiently. Some people work better by phone, others by email or text messaging. Find an agent that works the way you do.

Part of your establishing your relationship should also include signing a buyer's agreement. This way, both of you are committed to working together to get the job done. Having that certainty will make your agent more determined than ever to do a great job for you.

2. Focus on a specific area

Don't give your agent too broad an area to look at. Pick a part of town that is large enough to ensure you'll find a suitable property, but small enough that you are not looking for a needle in a haystack.

3. Clearly communicate with your agent

The key to compressing your timeline and still getting the property you want is communication. It can be tough to communicate in this day and age with so many different forms of communication possible. You can text, email, leave voicemails, or just have an old fashioned phone conversation. Just make sure you work closely to convey what types of property you are really wanting. The corollary to this rule: Don't assume your agent can read your mind!

Also, make sure your agent knows of your goal to have a contract signed by the end of the chosen weekend well in advance. The more lead time you can give, the better, because that will allow more preparation and a pave the way for a smooth deal.

4. Pick a weekend when you can have your agent's full attention

Work together with your agent to pick a weekend that works for their schedule. Remember, while they are working for you, they also have a family and other clients to plan around. Don't buy tickets until you've talked to them first.

5. If you're married, come with your spouse

You know how sales people always like to have both spouses present for sales presentations? There's a good reason for that. When there are two parties that need to make a decision, both should be present if at all possible. This will smooth out the road to a quick and easy deal (see #9).

6. Get preapproved for a loan

This is extremely important if you want to make a serious offer and get a fast response. When you are preapproved by a lender (not prequalified; that's far less valuable), you are essentially coming in from a position of strength with cash in hand.

7. Don't make contingency offers

Find any way you can to avoid having to make an offer with a contingency. Sellers want as few things as possible that can go wrong in an offer, and a contingency (i.e., "This offer is good only if I sell my other home") is a red flag for something that can (and often does) go wrong. There are creative ways to avoid contingent offers. Talk to your agent for ideas.

8. Don't waste time looking at properties you won't buy

When you are setting out to buy a home in a short time period, you don't have time for window shopping. Stay focused on the task at hand and don't get caught taking bunny trails. Your agent should have a list of properties in hand that you've reviewed ahead of time. Nix the properties that you can rule out ahead of time and only visit the ones that have potential for being "the one."

9. Use technology to speed the process where possible

Don't be afraid to use your smart phones, laptops, and tethered Internet connection to their fullest potential. On the other hand, don't let your love for techno-toys be a distraction and time-waster. Use technology when it is helpful. When it stops being helpful (i.e., it's taking you an hour to get your laptop tethered to your Blackberry to send an email that you could convey in a phone call), don't.

10. Be decisive

The biggest deal killer for any transaction is indecisiveness. When you are wanting to buy a home in a short amount of time, you don't have the luxury of contemplating each opportunity for days. Decide ahead of time to be decisive, and the process will be much smoother.

Need to buy a new home in the San Antonio area over a weekend?

Give Kurt Hudspeth a call at 210-254-2485.

 

 

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