Buying in a HOT market – How to set yourself up for success. Money talks and it seems that cash speaks best in competitive markets such as Atlanta’s. The one tip that continues to ring true in successful house buying is going in with a CASH offer. Set yourself apart from other buyers and give us a call!
Nicole Howson and her partner spent the pandemic cooped up in a small rental apartment in Florida with their two kids. So they decided it was time to move back to the Atlanta area, where they have family, and buy a house with more space.
Howson was in for a shocker. When they started looking at houses near Atlanta, they kept hitting a wall.
“I did, I think, 27 offers,” she says. “None of them got accepted.”
They discovered that this is the toughest housing market buyers have faced in many years. There aren’t enough homes to meet demand, and they sell very quickly.
Howson liked one house so much that she put in a bid over the asking price. She loved the fenced-in yard and neighborhood children playing nearby. She remembers praying, “God, please let this be the one!” But that offer didn’t get accepted either.
Howson started hearing that the winning bids often came from buyers offering cash. That meant people or investors that could show they had the money in the bank. Cash is incredibly attractive for sellers, who often worry that deals might fall through if a buyer doesn’t quality for a mortgage.
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