You can strengthen your offer on a home in five simple ways.
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We’re still in an incredibly competitive market, so buyers need to do all they can to make their offer stand out. Here are the top five ways you can strengthen your offer and win the home of your dreams:
1. Your first offer should be your strongest: Come in with the best price you can afford. You may not get a second chance as counter offers are rare in this market of multiple offers and bidding wars. The BEST offer is accepted.2. Remove all contingencies if possible: The first one we see waived is the home inspection, as it immediately makes an offer much more secure. If you’re knowledgeable about homes or know someone who is, have them come with you and assess whether it’s a smart idea to waive the inspection.
"Make sure that your agent is finding out what terms the seller wants, and try to meet those needs in order to make your offer stronger."
3. Make a cash offer: This will allow you to skip the appraisal contingency. Even if you have to get financing, you can still waive the appraisal contingency if you feel comfortable doing so.4. Make the second deposit right away: Typically, you make a 5% to 10% deposit to take the property off the market. There’s an initial deposit and then a second deposit, but you can make your offer stronger by providing the second one immediately. If your offer isn’t accepted, they won’t cash your check anyway.5. Be flexible with the closing date: If the seller needs to close quickly or extend the closing period, let them do so. You could do a leaseback or extended closing to give them plenty of time to move.
Make sure that your agent is finding out what terms the seller wants, and try to meet those needs in order to make your offer stronger. If you have any questions about this or anything real estate, feel free to reach out. I look forward to hearing from you soon.
