Home Buying Tips That Will Give You an Edge

According to Forbest Magazine, these tips will help you when home buying. In today’s competitive market, it takes more than cash to close a deal. Here, five experts offer tips to beating out all-cash buyers.

It’s not a buyer’s market these days; there are still plenty with cash, and financing has brought in a whole new set of hungry home hunters. According to CoreLogic, cash sales make up one third of total homes sales. Competition in key popular locations is even greater. “Cash purchases account for nearly half or more of all transactions in cities such as New York, Miami and Los Angeles”, says appraiser Jonathan Miller of Miller Samuel.

The latest results from the Knight Frank global survey of the top 40 cities that matter to the world’s wealthy rank New York City #2, Miami #6, and Los Angeles #22. In Miami, the number of foreign buyers looking to purchase real estate is up 40 percent over last year, with 81 percent paying all-cash, says the Miami Association of Realtors. If you’re looking to buy that dream property, you could quickly find yourself in a horse race against global buyers who are willing and able to pay cash. So how do you get an edge on the competition?

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