Three tips to help your offer stand out to sellers in this market.
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We’re in an extremely competitive market right now, so today I’m sharing how buyers can still set themselves apart and win a home. Much of what you do will depend on the property you’re trying to buy, but here are three tips that will help every buyer:
1. Work with a great lender. Sellers will be looking to see if you can close on time and get the money you’ve promised. Working with an excellent lender who’s on top of communication, has all their ducks in a row, and has a good reputation will make a massive difference in whether the seller chooses your offer or another.
2. Consider waiving contingencies. Each situation will be different, but if you can do much of your due diligence before you write the offer and feel secure in waiving some contingencies, you’ll be in a better position to purchase the home and get your offer accepted. Consult with your real estate agent about this because you also need to know the risks involved.
"There are many ways you can make your offer more appealing to sellers."
3. Remember that cash is king. Don’t worry; it isn’t crucial that you purchase the house with cash. However, if you have extra cash, you can use it to make your offer stronger. For example, you can submit a larger earnest money deposit and allow the seller to have it sooner in the transaction. Another thing you can do is offer more cash above the appraised value.
Both of these come with some risk, so again, consult with your agent to see if they make sense for you. However, these two things often help buyers win in the current market.
The bottom line is that there are many ways you can make your offer more appealing to sellers. Our market is very competitive these days, and you don’t want to write 20 offers before you get one accepted.
Feel free to reach out via phone or on my website if you have any questions or want to discuss these strategies further. I would love to be your real estate resource.