2 minute read.
In a competitive market, it can be difficult to get your offer accepted on your dream home. There are many instances where sellers get multiple offers, and it’s up to you to get yours noticed. What can make this process even more difficult is if you're competing with cash buyers who are lower risk to the seller. If there is a chance the home you like will get multiple offers, ensure that you follow these four steps.
Use a Real Estate Agent
Working with a real estate agent that has a solid understanding of the market is incredibly beneficial. Choosing to work with a real estate agent provides an excellent opportunity to ask all the questions you may have. Be proactive and communicate often. A seasoned real estate agent will be able to guide you through the offer process and ensure you feel comfortable in your choices.
Home offers are usually reliant on financing and home inspection. For buyers who are in need of a mortgage and/or prefer an inspection for their desired home would be in a better position to ensure they have this due diligence completed ahead of time. This would require them to be completely pre-approved ahead of time and complete their inspection during one of the initial showings. That way, you would be able to waive one or several contingencies, which would drastically improve your chances when competing with other buyers.
You can also shorten the closing period. This can be appealing to sellers who want a secure offer in a short amount of time. There is also the ability to include a condition that allows the seller to adjust the closing to their desired date. Ultimately, showing the sellers that you are more than willing to negotiate shows a lot of strength.
Making It Personal
Buying a home is a big deal, and so is selling one. Letting the seller know how interested you are can go a long way. If it’s a top of the line home in a safe, popular area, the seller may want to get to know their potential buyers better. If a seller has many offers to choose from, a personal letter telling the seller all about you, your family and how much you love their home could be the deciding factor for them.
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