Buyers are facing stiff competition and bidding wars in the real estate market. Here are some tips for the first-time home buyers according to CNN Money.
House hunting can be long, frustrating and exhausting. Home showings can take over your nights and weekends. Be realistic, what you see on TV isn't reality.
Get pre-approved by a lender before starting your search. Create a budget to figure out how much you're comfortable spending each month.
Play it cool at the open house, build rapport with seller's agent but don't overshare information.
Be prepared to have your offer rejected. In a hot housing market, sellers will have the upper hand meaning competition is stiff.
Lay low after your offer has been accepted. Banks will scrutinize your finances and big purchases could affect your qualification status.