If you’ve found your dream home, only to discover that other buyers have their eyes on it, don’t worry. There are steps you can take to make your offer stand out against the others.
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Today, I’m here to talk to you about four ways you can make your offer on a home stand out.
When you’re putting in an offer for your dream property, it can be disheartening to learn that there are actually competing offers from other buyers on the table. There are, however, ways to make your offer stand out in a bidding war.
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Sellers will often receive multiple offers on their home, and time will not be on your side. Do not sleep on it.
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Here are some tips on making the strongest offer possible:
- Act fast. If buyer demand outpaces supply, as is often the case, it will result in low inventory. This means that sellers will often receive multiple offers on their home, and time will not be on your side. Do not sleep on it.
- Make a solid offer. A solid offer will be comparable to other recent sales in the neighborhood and will represent market value. Sellers will view your offer as more solid if you’re pre-approved for the listed price amount, or if it is a full-cash offer. It will also help solidify the offer if it is not contingent upon the sale of your current home. You can also include a personal letter in the offer, letting the seller know exactly why you want to make their home yours. These kinds of letters can be very helpful when a seller is weighing their options, especially if they have sentimental attachments to their property
- Don’t nitpick. Another way to make your offer stand out from among the others is to avoid nitpicking; you can do this by waiving certain contingencies, or by being lenient in your inspection. There are always things you can fix yourself once you’re in the home.
- Be prepared to negotiate. A seller will many times present a counteroffer to your original offer, and certainly if there aren’t multiple offers. Counteroffers usually revolve around price and closing time. Make sure you give a serious bid, and that you are pre-approved for the amount. With regard to closing dates, sellers usually have an ideal timeframe in mind. Once again, being less picky here may give you an advantage if there are other buyers.
As always, we are here for you and anything that you may need. We’re grateful to be your community resource, ready to serve you, your friends, family, relatives, and neighbors. Please feel free to reach out us at any time.
