As inventory shrinks in the Fresno and Clovis areas, buyers are finding that the homes they want to buy are going fast and they are being out-bid!

Bidding wars are becoming commonplace as multiple buyers compete to purchase the same homes. This is especially true on homes that are move-in-ready or have minimal repair requirements. Another factor is price range. Homes under $250,000 seem to be going like hot cakes.

So what can one do to increase their chances of becoming the winning bidder?

1. Sign up with a realtor for listing notifications to be sent to you as soon as they appear on the Multiple Listing Service.
2. Have a pre-qualification letter from a lender ready to go, as many sellers won't even look at your offer without one. Make sure that any money you are using as a down payment can be verified in an account for at least 2 months of seasoning, or get a gift letter from the person gifting you a down payment, and their proof of funds in an account for the same 2 months seasoning time frame.
3. If you really like the house, have your realtor run some comparable pricing in the area and be prepared to offer more than the asking price, and asking as little as possible from the seller in concessions.

If you need some help in preparing yourself with the best buyer's tools, please give me a call and we can analyze your current situation and develop a winning strategy.