Buying a house can be an exciting process. Looking at homes for sale in Baton Rouge, and dreaming about the next chapter of your life. However, in the current market, it can also be frustrating, with many sales ending in a bidding war.

So if you find yourself in this situation, how do you get a leg up on the other buyers? Believe it or not, some considerations go well beyond the price offered that can win the bid for you. Before you start looking at homes for sale in Baton Rouge, consider the following tips.

Be Prepared

The most important part of being ready to move in the current market is to be prepared to move when you start looking. If you are just considering your options, know that you are not likely going to get a property right now. In many cases, market-priced properties often have offers within hours to days of being listed.

The first step to being prepared is to come to the table with a mortgage pre-approval. This step shows the agents and seller that you are serious about making a purchase right now. When you do not have a pre-approval, you will take longer to secure financing and close the sale.

Keep a close eye on the market, and work closely with your agent to learn about properties before being listed. This gives you a leg up on learning about properties quickly. When you do find one you like, be ready to make an offer quickly.

Being ready to move quickly has more to do with a hesitancy toward the size of this kind of purchase. While you want to take the time to carefully consider your options, it can cost you the opportunity in a seller’s market.

Think Through The Money

Money is always going to be important when purchasing real estate. Part of the cause of the housing market collapse is people overspending on how much they can actually afford. Even if you are preapproved for $300,000, you may only really want to budget for $250,000.

Work with your financial advisor and your real estate agent to work out a reasonable budget for your purchase. As you work through this budget, be sure to keep in mind any work your new property may need.

As you think through your budget, also consider your down payment. Even if you can get approved for a $0 down mortgage, these can prolong the closing process. A cash down payment of at least 10% shows you are will and equipped to close quickly.

Consider The Seller

Be sure to keep in mind that the seller is also a person who is going through a potentially stressful experience. The more flexible you can be with your seller, the more attractive you may be to them.

Some sellers are going to be out of the house right now, and you can close within weeks. Others may be waiting for their new home to close, so they can move. Find some flexibility in the process to find a balance between your needs and those of the seller.