Nestled just 26 miles from Atlanta, Alpharetta, GA, is a thriving city of slightly over 67,000 people that epitomizes what it means to be Southern. The real estate market in Alpharetta is currently quite competitive. Homes typically sell for 2% above the listing price, and hot properties can easily sell within 6 days of listing. However, this does not imply you cannot still find a purchase of one of the homes for sale in Alpharetta that suits your family’s needs. Here are some pointers to help you navigate the hot Alpharetta real estate market.
Obtain Pre-Approval
Pre-approval, which is advised regardless of the state of the market, is a must in a strong seller’s market. Sellers will hardly consider an offer from buyers who are not pre-approved because they fear financing can collapse.
Thankfully, it is easy to obtain pre-approval. Visit your select mortgage lender and present them with the necessary documentation to gauge your creditworthiness. Once approved, you can use the pre-approval to begin house hunting.
Understand Your Needs and Wants
Inventory is limited in a competitive market. Therefore, finding a home that ticks all your boxes is often hard. Before you start your house search, talk to Alpharetta GA real estate experts The Kroupa Team, to discuss your requirements, such as the number of bedrooms and school district.
You should also curate a list of wants, such as a home office, swimming pool, outside kitchen, and more. Knowing your needs and wants helps you manage your expectations and guides your house hunt.
Understand and Communicate Your Budget
In a hot market, homes sell fast for above the listing price, and it is common to experience bidding wars. All these factors may make you spend more than you can if you do not have a definitive budget.
Remember, the pre-approval amount does not reflect what you can afford, as other expenses come with owning a home. Set a budget and communicate it to your agent so they can advise you on the properties to look for.
Make a Clean, Fair Offer
Do not try scoring a deal for a home in a seller’s market. With many houses selling above the listing price, your first offer should be close to what the seller wants. Sometimes, your agent might even advise offering more than the listing price to avoid being outbid by another buyer.
Besides making a good offer, you should consider excluding contingencies. Typical contingencies based on securing financing or home inspections might make the seller less confident in the deal. While buying a home without contingencies exposes you to some risk, it is sometimes essential in a seller’s market.
Partner with a Knowledgeable Real Estate Agent
Working with an agent is necessary when buying a home in Alpharetta. Your agent will inform you about homes that have recently been listed, are about to be listed, or will not be listed or advertised to the public. This insight will give you an advantage over your competition when making offers on homes you want.
Additionally, your agent can help you draft an appealing offer, and guide you on navigating a bidding war.
Buying A Home in Alpharetta, GA? Contact Abigail Kroupa
Navigating the competitive housing market of Alpharetta is not as easy. However, with the expertise and experience of real estate agent Abigail Kroupa, you can still find the home of your dreams. Abigail understands the complexities of a seller’s market, and can use this knowledge to help you find the perfect home. Reach out to Abigail Kroupa today to get started!
