In a tough seller含羞草研究社檚 market, homebuyers need to stand out from the crowd.

What含羞草研究社檚 your plan?

Send the seller a personal letter? Entice them with treats?

For money is the strongest motivator. It含羞草研究社檚 also the area where buyers most often make mistakes. Here are his top three tips for first-time buyers and re-buyers returning to the market:

1. A down payment is not enough

含羞草研究社淔irst-time buyers assume they have enough for a down payment, but they forget to check their credit,含羞草研究社� says Donhauser, PREC. Bad credit can carry over from big purchases like a car or a vacation, but it can also accumulate through something as simple as an unpaid phone bill.

含羞草研究社淲e含羞草研究社檝e seen deals collapse where people thought they had their ducks in a row but then they go to get a mortgage and find out their credit含羞草研究社檚 bad.含羞草研究社�

People re-buying after selling the family home may think their experience gives them an advantage, but the rules have changed a lot in recent years. 含羞草研究社淧eople forget about re-qualifying for another mortgage,含羞草研究社� says Donhauser. Canada含羞草研究社檚 new stress test and tighter mortgage laws may affect re-buyers in ways they don含羞草研究社檛 expect.

含羞草研究社淭alk to your banker, or better yet a mortgage broker.含羞草研究社�

2. Check early, check often

So how should you go about your house hunt? Should you explore the market first? Make a list of dream neighbourhoods? When should you talk to a mortgage broker?

含羞草研究社淚t含羞草研究社檚 the very first thing you should do,含羞草研究社� says Donhauser, 含羞草研究社淭hen check back periodically as you continue your home search.含羞草研究社�

Until you含羞草研究社檝e looked at your budget, you won含羞草研究社檛 know how much house you can afford.

3. Make yourself the easy choice

含羞草研究社淲hen the market含羞草研究社檚 tough like this, the seller is definitely going to favour someone with their ducks in a row,含羞草研究社� says Donhauser.

Think of it this way: if you had to choose between a buyer with financing in-hand and a buyer whose offer is subject to the sale of another property, who would you choose?

含羞草研究社淚 had one client recently who lost three deals because the financing fell through,含羞草研究社� says Donhauser, 含羞草研究社淵ou see it on their faces. People get disheartened.含羞草研究社�

Save yourself the heartbreak and . If you含羞草研究社檙e looking for a home in the Okanagan, get in touch with , an independent member broker with RE/MAX Kelowna. Email garthclickforhomes@gmail.com or call (250)212-2838.