How to Get Your Offer Accepted On A House: 4 Rules For Buying A Home In A Sellers Market

So this isn't your first time at the home-buying rodeo? Well, if it's been more than a few years since you've been out of the game, listen up: Times have changed. To nail a perfect home in today’s housing market, follow these rules:

0:32 - Rule No. 1: Prepare for a marathon house hunt
With today’s low housing inventory and strong buyer demand, it might take you three to six months to buy a house—and maybe even up to a year in some of the country's tightest markets. Prepare accordingly.

0:48 - Rule No. 2: Secure financing before you start shopping
Gone are the days when you'd waltz into home showings without securing your financing first. If you need a mortgage to buy a home, you'll want to get pre-approved for a home loan before you set foot in a home.

1:04 - Rule No. 3: Curb the contingencies
When buyers make an offer, they can tack on contingencies—terms that must be satisfied before a deal goes through. For instance, you might require that the place pass a home inspection to ensure that it doesn't need tons of repairs. If you’re getting a mortgage, your lender will require you to include an appraisal contingency where an appraiser makes sure the house is worth what you're paying.

1:18 - Rule No. 4: Don’t lowball your offer
Bargain hunters, beware: If you’re making an offer on a home that’s priced to sell—meaning it’s listed at, or slightly above, fair market value—you need to wrap your head around the idea that you’re more than likely going to be offering full list price.

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Learn More about the home buying process: "Home Buying 101: How Do I Get Started?"
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