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How to Compete in the Market

Three Quick Tips!

We know this market is crazy and even faster than usual because of the housing shortage.

To buy a home right now you have to be competitive. However, this isn’t all bad! If you buy a home now, you can benefit from the low-interest rates. There are certain homes that are selling faster than others. Therefore contact your real estate professional and find out where your home fits in the equation. But, if you are ready to rock and roll with the selling of your house and buying of another. Here are three quick tips you can take advantage of to compete:

  • Sell Your Home: in this market, you can get the highest price. If you are looking to downsize, this is the time.
  • Cash is King: bring cash to the table and quicken the closing process.
  • Make an Attractive Offer: Remove contingencies from your offer like an appraisal for repairs or contingencies on selling your existing home. This can put your sellers at ease.

Before you get going, be prepared with all of the paperwork and information you need in place. This way you don’t have to sit and find it and lose out on a home. You can be quick and ready for what is to come. Here is a checklist of what to prepare:

  • Income verification such as pay stubs, W2s, 1099s, etc. for the past 2 years
  • Bank statements and proof of any liquid assets for the last 60 days that you plan to use for a down payment, closing costs, and reserves.
  • Gift letters from any family member that is gifting you money for the home
  • Your address/rent history for the past 2 years
  • Your employment history for the past 2 years
  • Proof of any other income such as disability, dividends, bonuses, social security, or pension if you want to use them to qualify.
  • Any child support/alimony debts you pay
  • Information on any debts you owe such as car loans, your current home, credit cards, student loans, etc.
  • Information on non-liquid asset accounts such as life insurance, debts, bonds, stocks, etc.

Listen to this video with RE/MAX Capitol Properties Broker/Owner, Steve Prescott, for more information! Call us today to schedule an appointment or to ask any Cheyenne real estate questions, 307-635-0303. Connect online HERE.

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