If you’re committed to becoming a homeowner in the Denver metro area in 2023, there are some steps you can take to ensure the process goes as smoothly as possible. Check out the tips below before you start your house hunt.

1. Be Capable of Compromising Your Needs
Determine your needs and wants. Once you start looking at properties, you’ll find it’s a challenge to get everything you want within your budget. You may need to be able to compromise. You may have to give up a few of your “wants” to ensure that you end up with a house that fulfills your most pressing “needs.”

2. Submit Your Bid Quickly

Yes, buying a house is an enormous investment. Take some time to decide whether a particular house is the right one for you, but just know the longer you wait to make an offer, the greater the chance is that another buyer will come along and beat you to the punch.

3. Don’t Lowball the Seller

In this market, you really can’t. Yes, sellers need to be mindful of how they price their property, but if they don’t like your bid, it won’t take long for another buyer to come along.

4. Submit Your Best Offer Upfront

Usually, you would make a slightly lower offer to give yourself some room to negotiate. However, in the time it takes the seller to consider the offer, reject it, and for you to make another offer, another buyer may have come along.

5. Prove That Your Finances Are in Order

When a seller receives multiple bids, they will often look at the strength of the offers, not only in terms of the numbers but also the likelihood that the buyer can pay the amount that they offered. If you can prove that you can pay the amount you’ve bid, you’ll have a leg up on any competing buyer who cannot prove that they’re financially capable of backing up their bid.

6. Add an Escalation Clause

An escalation clause can give you the chance to counter any competing offers right away. Essentially, it’s an offer that states your initial bid with the caveat that you’re willing to increase your offer should a competing bid come along that’s higher. You can name the increments you’re willing to increase by, as well as the maximum amount you’re ready to offer.

7. Agree to Terms That Benefit the Seller

The best offer isn’t always the offer with the highest bid. A contract contains countless terms that both the buyer and seller must agree to, such as the move-in date. Some buyers may be looking to move in right away; however, if you know that the seller needs time to arrange their next living situation, you can offer a flexible move-in date. By agreeing to terms that are more beneficial to the seller, you may convince them to accept your bid, even if it’s slightly below the highest offer they’ve received.

8. Work with A Professional Real Estate Service

A reputable real estate agent will also be able to identify properties that are about to be listed but haven’t been yet, thereby allowing you to get a foot in the door before everyone else. Agencies can do this because they have connections with other agents who represent sellers across town. Finally, the right agency can provide you with guidance when submitting a strong initial bid.

Ready to see what’s available in the Mile High City? Contact Metrowest today – we’d love to show you around!