Many home buyers in this market are finding themselves smack in the middle of Bidding Wars. Often times Buyers are losing a few (or more) bids before they get the winning bid. So, what type of offers are winning? What can you do to help get the winning offer? Here are just a few tips to making a good offer.
1. Make a Solid Offer!
This is not the time to lowball an offer. Make the offer amount realistic based on comps in the area.
Make the Offer Clean – for example if the MLS listing stated the tv wall mount does not convey, write that into your offer already. Try not to give any reason for a counter offer to be necessary.Don’t ask for seller concessions unless you absolutely need them.2. Cash is King
If at all possible use cash to purchase the home.When cash is not an option, have your pre-approval ready to go ensuring the Seller that you are a serious Buyer who can actually close on the loan.3. Reduce The Inspection Period
The standard inspection period is 10 days, consider reducing that to 7 or even 5 days.Make sure you did your due diligence already on the area and on all items except the home itself. This way you aren’t left scrambling last minute with a shortened inspection period to get it all done.Research your home inspectors in advance and have your go-to and a back-up picked out already. This way you can schedule the inspection ASAP once you’re under contract.4. Make it Personal
Sometimes it is helpful to include a short letter to the seller about how you will love the new home.Keep it simple and heartfeltConsider including a picture of the familyThank the seller for having wonderfully maintained the home so it is ready for you as the new owner!Even if you do all of these things, sometimes you are not going to be the winning offer. Many of our homes are seeing 3 or more offers. If you do not get the home, don’t be discouraged. There will be another home that is right for you soon. Stay positive, keep looking, and be ready to make an offer the moment you find the right home for you.
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