Go For The Gold: How to compete and win as a home buyer

Are all buyers created equal?  Certainly not --- especially from a seller's perspective in our current market. 


Here's how I would rank buyers, from the most exciting to sellers (#1) to the least (#9)...

1. Cash buyer, without a home sale contingency
   
2. Pre-approved buyer, without a home sale contingency
3. Pre-approved buyer, with a home sale contingency (with the house under contract)
4. Buyer without pre-approval, without a home sale contingency
5. Buyer without pre-approval, with a home sale contingency (with the house under contract)
6. Pre-approved buyer, with a home sale contingency (with the house on the market)
7. Pre-approved buyer with a home sale contingency (with the house not yet listed for sale)
8. Buyer without pre-approval, with a home sale contingency (with the house on the market)
9. Buyer without pre-approval, with a home sale contingency (with the house not yet listed for sale)
   

It is important to note where you are on the list above since the factors represented above often affect a seller's willingness (or lack thereof) to negotiate.

The good news is that you can (sometimes) take steps to move up this list:

1. Get pre-approved
2. Get a contract on your current home
3. At least put your current home on the market
   

To note, here are some other buyer characteristics that are desirable amongst sellers:

1. Minimal inspections
   
2. In a hurry
3. Large down payment

As a buyer in today's market, it's important to understand a seller's perspective before or during the process of making an offer.