No matter what it is you’re aiming to buy, the power of the Fear of Missing Out (FOMO) can be an effective pull. The worst part is that marketers know this all too well, and frequently leverage it in the form of promotions or referral programs, just to name a few.

But sometimes, the FOMO comes naturally. If there’s a fantastic car on sale, and the owner has kept it in perfect condition while asking a reasonable price, you tap into a persistent and perhaps even irritating part of yourself to secure that purchase.

The same can go for other valuable assets, like housing. Houses can be alike, but the value proposition isn’t always, and with private equity firms and wealthier buyers sniffing around, trying to purchase one and avoid letting ti slipout of your fingers can feel like a tough ask. Unfortunately, we can’t guarantee success 100% of the time, it’s just not possible, and so feel a little untethered to the outcome while hoping for the best is just good sense.

That being said, you can still do everything in your power to achieve the best outcome. Here are a few tips for achieving exactly that:

Consider Bridging Loans

Timing can make or break a property purchase even if you’ve found the perfect house. It’s frustrating of course, but your current place hasn’t sold yet, or your mortgage approval is taking longer than expected, you may be stuck in what your flexible movement options are. If the buyer really needs someone to make a decision as they have their own schedule to worry about, this is where bridging finance can be useful.

A regulated bridging loan will give you the funds to secure the property now while you sort out your permanent financing, and while it’s not a long-term solution, it can absolutely buy you time and stop someone else from swooping in. The costs are higher than a standard mortgage, so you need to be confident about your exit strategy, but if the alternative is losing a property you’re set on, it’s worth considering seriously.

Negotiate Convenient Scheduling

Sellers are usually just normal people trying to move on with their lives. If you can make their life easier, you’re already more appealing than other buyers who only care about getting the lowest price. Maybe they need a longer completion date because their new place isn’t ready yet, they need to move within a specific time of year because of school terms, or they need to move fast because of a job relocation. No matter what it is, if you can accommodate that kind of schedule, let them know.

Those are just a couple of examples of course. They may also prefer someone who can be flexible with viewings, completion dates, or the move in date. Sometimes such goodwill is the difference between your offer getting accepted and someone else’s, particularly if the financial offers are similar.

Sell Your Motivations & Care For The Property

Remember that if you’re buying a house from a family, they’ve lived there, maybe raised kids there, and they probably have some attachment to the place. If you can show them you’ll look after it and appreciate what makes it special, then be sure to point that out. 

It’s not solely strict financial planning that people care for, they can sometimes be swayed by emotional reasoning to. Maybe they’d prefer to sell to a young family than an equity firm. It’s worth a try.

With this advice, we hope you can more easily prevent a potential house purchase from slipping through your fingers.