Yesterday was a quick education in the Atlanta market for one of my buyers who had just begun her search. She had heard about a house coming on the market in Vinings. We quickly saw it, and arranged for her husband to come over later in the afternoon.
I bet you can guess what happened. Between the wife seeing it and getting the husband in, another couple had submitted an attractive offer. Experiential education is the most instructive. Here are the new rules for buying that my clients quickly learn:
Use an agent who is connected and current in the market, knows the comparable sales prices that will impact your purchase, and understands the latest negotiating trends in this competitive environment
Have your finances in order. That means either you are a cash buyer or you are pre-approved by your lender
Do the research, but prepare to offer close to full price, or even slightly over
Write a hefty earnest money deposit check-2-3% shows you are serious
Keep contingencies and special requests to a minimum
Have your agent learn the terms that will be most attractive to the seller-especially closing date