Homebuyer Tips for Hot Real Estate Markets

The housing market is HOT right now, which can make it even harder to secure your dream home. Buying, selling, or both – you need a top-notch title team to help transfer the property’s title. While home inventory is low, and competition is high, you can still purchase a place you’ll love with these tips from True Concept Title: 


 Spotting A Hot Real Estate Market  


It’s plain to see that right now we are living in a hot real estate market basically nationwide. New home sales are steady and refinancing to take advantage of rates are increasingly popular. 


In general, if the unsold housing inventory has been on the market for four to six months, the market is considered balanced between buyers and sellers. Less than that is considered a seller’s market, and more than that favors buyers.  Beware of an “overheated” market where housing prices can soar to unsustainable levels and demand for homes outstrip supply. 

 

Ready to Buy a New Home 


If you’re trying to buy a house in a hot market, you’ll want to make sure you have the best real estate experience from start to finish. Try these tips: 


Window Shop 


Before you set your hopes on a property, spend some time looking over what is available in your market. Scan the new listings every day. Tour open houses. While no property will be perfect, take your time to find what kinds of homes and neighborhoods that you like, and what features matter most to you in a home. 


You’re buying a home, congratulations! All the steps, inspections, mortgage loans, and paperwork can feel like an overwhelming process. We’re here to help you through every step in the title insurance and escrow process. Protect the biggest purchase of your life with True Concept Title! 


Have the Help of a Good Real Estate Agent 


Having a good real estate agent on your side is key to purchasing your dream home in a hot market. You want someone that knows about listings as soon as they hit the market, if not before. Your agent should also know how to make your offer stand out from the crowd. 


Decide on a Compromise 


Some buyers see a dated kitchen or living room and make a run for the door. That may mean less competition for your property purchase. Home finishes and appliances can easily be changed, but it’s harder to change the floorplan, and of course, location matters.   


Know when and where you can make small compromises, such as an outdated kitchen or bathroom, or a smaller lot. You might just get a great home in a neighborhood you otherwise wouldn’t be able to afford the mortgage on! 


Don’t comprise on a great title experience. Call True Concept Title for national service to make your new home buying experience go seamlessly. We’ll even come to you for convenient mobile closings for your new property.  


Line Up Financing  


Get preapproved for a mortgage and talk to several lenders. You want a mortgage broker on your side that can close a loan quickly (and take advantage of great rates), especially in a hot market. 


Offer a Quick Closing 


Some sellers are in a hurry, and if you can put in an offer that closes quickly, you may set your offer apart. Some sellers might even accept a slightly lower offer in exchange for a quick close. 


When you work with industry experts like us, the real estate agent, mortgage loan originator, and title/ escrow company will use our on-going relationships to do everything we can to help ensure a fast closing. 


Ready to close on the go? True Concept Title’s national title specialists can close anytime, anywhere. We offer mobile title closings and fully support you at every step of the title process. Contact us today: call 813-263-7168 or toll-free at 866-651-6224 to speak with our title experts.


Get A Pre-Inspection 


You’ve found your dream home that you want to make an offer on. Great! Now, have an inspector look it over. An inspection can help reveal problems that might impact your offer price, or that you might want the buyer to fix before purchasing. 


In a competitive market, a seller is probably unlikely to agree to fix minor problems, so be warned. A pre-inspection also allows you to make an offer that is not subject to an inspection contingency. 


Waive Contingencies Where Possible 


If you are able, waive other contingencies such as for financing. This means that if your financing falls through, you will lose your earnest money. If going this route, it is wise to stipulate that a lender’s appraiser needs access to the home, otherwise you won’t get your mortgage. 


Some things like liens on a property may also make it more difficult to get your mortgage, but a title company will make sure that everything is in place for the property purchase and make sure your investment makes sense. 


Remember: even though waiving contingencies can help speed things along, you want to be careful because they are put in place to protect your rights and your money during the sale! 


Be Patient  


In a hot market, you might make several offers before winning on the right home. The house of your dreams is out there if you have the patience to find it! 


Close on the House of Your Dreams  


While the pursuit of homeownership can be daunting, our title agents at True Concept Title want you to feel comfortable throughout the entire process of your real estate purchase. The real estate market is always changing, be ready to put an offer on a home you love while interest rates are still low! 


Choose True Concept Title for all your real estate title services and escrow needs. We support the entire home buying process from start to finish, and with offices based on both the East and West Coasts, you can reach our national title experts anytime. Your dream home is waiting for you! Call 813-263-7168 today to speak with a specialist. 

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In an age where technology continuously reshapes how we conduct transactions, e-closings, and digital signatures have emerged as transformative forces in the real estate industry. These innovations streamline the buying and selling process, offering numerous advantages over traditional paper-based closings. At True Concept Title Company , we embrace these advancements to provide clients with a seamless and efficient closing experience. Here’s a closer look at the key benefits of e-closings and digital signatures. Convenience and Accessibility One of the most significant advantages of e-closings is their unparalleled convenience. Digital transactions eliminate the need for all parties to gather in person, allowing buyers, sellers, and agents to close deals from virtually anywhere in the world. This flexibility is particularly beneficial for individuals with tight schedules or those living in different locations. E-closings also empower you to review documents at your own pace. You can sign digital documents securely at a time that suits you, reducing the pressure to finalize everything in a meeting. This convenience translates to a more relaxed and stress-free experience for everyone involved. Enhanced Security Measures Digital signatures offer enhanced security features that protect the integrity of your documents. Electronic transactions often utilize encryption and secure identities to ensure that signatures are genuine and documents aren't altered post-signature. Many e-closing platforms offer audit trails , allowing you to trace every step of the signing process. This transparency provides peace of mind, as both parties can verify the authenticity of the documents and who accessed them. Additionally, digital storage of these documents reduces the risk of loss or damage compared to physical papers. Increased Efficiency and Speed E-closings significantly expedite closing, reducing the time to finalize real estate transactions. By eliminating the back-and-forth associated with mailing documents, closings can be completed more rapidly. This speed is particularly useful in competitive markets where timing can influence the success of a deal. Furthermore, e-closings streamline communication between all parties involved. Any changes or updates can be managed in real time, ensuring everyone stays informed and on the same page and reducing the likelihood of miscommunication. Environmentally Friendly Practices The shift from paper-based transactions to digital signatures contributes to more sustainable and environmentally friendly business practices . By minimizing the need for printed documents, e-closings help reduce paper use and the carbon footprint of transporting physical documents. This eco-friendly approach is becoming increasingly important to clients conscious of their environmental impact. By adopting digital solutions, you contribute to a more sustainable future while enjoying the benefits of modern technology. Cost Savings E-closings can also lead to significant cost savings. By reducing the need for physical resources such as paper, printing, and postage, you can cut down on these expenses. Additionally, the increased efficiency of digital processes can save on administrative and labor costs. Moreover, fewer errors occur in digital processing, reducing costs associated with correcting mistakes commonly encountered in manual paperwork processing. Conclusion: As the real estate industry evolves, embracing e-closings and digital signatures represents a move towards greater efficiency, security, and convenience. At True Concept Title Company, we are committed to leveraging these technologies to enhance your closing experience. Whether buying or selling, consider opting for an e-closing to enjoy its many benefits. Ready to experience the convenience of e-closings and digital signatures? Contact True Concept Title Company today to learn how we can simplify your home transaction process with the latest digital solutions. Embrace the future of real estate with us!