After conducting an in-depth home search, you may find a property fitting your needs and homebuying goals. Ultimately, there are a few significant signs to note which can indicate a great time to put in an offer, and knowing what these signs are can put you ahead of the competition.
You find a house matching or exceeding your expectations
If you view a home and find it aligns or even exceeds your homebuying goals, this may be a sign to take the plunge with an offer to purchase.
Consider factors such as the space and square footage, location, if it has the HOA community of your preference and more.
You're operating in a sellers market
If you’re buying in a fast-paced market, it may be best to act quickly to secure the home of your dreams.
A seller's market typically features a shortage of high-quality homes and an abundance of homebuyers. Acting quickly is needed to secure housing, so working with your real estate agent, you may need to form a competitive offer letter to stand out from the crowd.
You're facing a time crunch
If you must move into a new home quickly, you may want to consider working with a real estate agent to map out a homebuying strategy, so you can efficiently find a home of your liking and turn in an offer letter.
This may include figuring out what you’re searching for in a home, including the number of rooms needed, yard space, location and other aspects.
Working with your real estate agent, observing the market and understanding your goals can help you figure out if it’s the right time to put in an offer to purchase.
About the Author
Bob Hummer
Bob Hummer brings a wealth of experience with him; a practitioner in real estate in Northern Virginia since 1978, a Life Member of both the Million Dollar Sales Club and the Top Producers Club with over 2,500 Satisfied Families and President, Prince William Association of REALTORS in 1991. His experiences range from helping buyers and sellers attain their goals; to renovating historic homes on Capitol Hill; to counseling and assisting homeowners facing the loss of their home due to foreclosure. Since 1996, he has presented his free monthly Home Buyer and Home Seller seminars at the Woodbridge campus of Strayer University. In June 2023 he completed the Certified Probate Real Estate Specialist course and was awarded the designation CPRES. His goal is to assist individuals who inherited real estate and wish to sell. A former "Military Brat" and a retired Air Force Hospital Administrator, Bob has made more than 26 moves during his life and is extremely familiar with all aspects of a family relocating - whether it is across the street or across the nation.