TOLEDO, Ohio — Buying a house can be tricky in the current market; in some cases, some homes are only listed for a matter of hours before offers start coming in.
Dimeka Fuqua said she put in about ten bids on houses since she started looking in January.
"People are buying houses left and right. So, you put in an offer, praying it's the right one and then, nope! It's not," Dimeka said. "My better half would be like, 'It's OK, we'll bid on the next one,' and I'd be like, 'But, I really wanted that house!'"
It took months, but Fuqua finally made the right offer. She said you have to stand out from the pack.
In her case, Fuqua said she put a healthy amount of cash down on her offer.
Broker and owner of Serenity Realty in Maumee, Ivan Smith said the starting bid is important.
"The bidding is going to start at the list price. All offers should be list price or higher. The days of getting your offer accepted for lower are gone," Smith said.
Though not recommended, Smith said that in order to win a bid, some buyers are waiving inspections, agreeing to accept the property in "as is" condition.
Realtors say buyers can also offer appraisal gap coverage in case the appraisal comes in lower than the bid, as banks won't provide financing above what a home is appraised for.
"Which means, in the event the appraisal does come in lower, how much cash do you have to bring above and beyond the appraisal price to get your deal accepted, and we're seeing them every single day," Smith said.
Fuqua closes on her house soon. She's relieved to move in and stop paying rent.
"(It's) our forever home that will be with our grandkids, and make memories of something that is ours," Fuqua said.
She and Smith both said that finding and buying a home is a full time job, so if you are on the hunt, you should stay on top of listings and make yourself an expert of the neighborhood you want to live in.
"Try to put your best foot forward when it comes to putting in your offers, because in the end, something will happen. You've just gotta be persistent," Fuqua said.