If you are reading this article, you are amongst millions of Americans who are tired of renting and want to buy. No what the market conditions are, it's usually wiser to own than to rent. With this knowledge you decide to seek a realtor, go through a buyer's consultation, get connected to a loan officer and get a pre-approval letter. Next step you go home shopping and things are super exciting. However, a challenge arises, your offers aren't getting accepted. You've put offers on over ten homes and to no avail. Now you're frustrated. what should you do?
There are a few things you can do. You may not like this option but one option is to wait. Especially if you're in a market like Broward or Dade county it's best if you just wait if you're not in a position to offer at least $10,000 extra. Maybe now is not the time to purchase a home.
Another thing you can do is to move away. Try a less populated area. Less populated, less competition. Sometimes what we want might not be at the location we want. Perhaps, just for a season just move away somewhere else, get some equity and then move back to where you want when things slow down.
A third option would be to consider a lease to own option such as Home Partners of America. In a nutshell, with Home Partners of America, you apply, get qualified, shop and Home Partners Of America purchases the home on your behalf and you'll have an option to buy after a year or so. The con to this option is your monthly payments will be higher but at least you'll have a foot in the door to being a home owner.
Why don't you give it a try? Feel free to call me if you're nervous and would like someone to help you with the process.