We all heard about buyers markets and sellers markets. What is the difference and how do you win in each? Well, a buyers market is simply when there are more homes for sale and fewer buyers in the market. A sellers market is when there are fewer homes for sale and more buyers in the market. So it’s a simple supply and demand equation. 

In our last video I covered the strategies for a buyer to win in a sellers market. Today we’ll talk about Buyers Markets.  If you’re purchasing in a buyers market, you have some more advantages as a buyer. Here are some tips: 

A) make sure you keep up-to-date on price adjustments

B) shop around for good mortgage terms

C) request, contingencies, allowances, or extras, such as a home warranty

D) ask the seller to help with closing costs

E) shorten the time for the sellers acceptance

F) request a credit against closing costs, if inspection reveals repairs are needed

G) all cash or mortgage preapproval provides even more leverage than in a sellers market

If you didn’t catch our strategies for buyer’s in a sellers market, go back and watch that. If you want to set up a strategy session, give us a call.