It’s tough out there for buyers; here’s my advice on crafting a winning offer.
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If the first offer you make on a home is above asking price, don’t expect the seller to just accept it straight away. In a bidding war among buyers, the seller will likely hold on to your offer for a couple of days to see if anyone else will throw in a higher offer. Either that, or they’ll reach out to all competing buyers and call for each one’s ‘highest and best’ offer. Be prepared!
That said, I still strongly recommend submitting your best offer first and letting the cards fall where they may. Make sure you are fully pre-approved so you can include that pre-approval from your lender with your offer. That way, the seller knows you’ve done your homework beforehand and you mean business.
“If a property that just hit the market fits your criteria, jump on it as soon as you possibly can.”
Along those same lines, put in a little bit more than normal for your earnest money deposit. Write that check with your offer so the seller can see it with their own eyes and understand that you’re invested in the deal and ready now.
Be decisive and act quickly; if a property that just hit the market fits your criteria, jump on it as soon as you possibly can because it won’t be around for long in this market.
Pick an experienced agent who can steer you in the right direction and give you invaluable advice on what your offer needs to look like to get accepted.
Lastly, don’t be afraid to stick a friendly note on your offer: “This is a house that I think my family and I can really enjoy for years to come.” That tiny gesture humanizes the interaction and may just be what sets you apart from the rest.
As always, reach out to me by phone or email if you have any questions on this or other real estate topics. I’d be more than happy to speak with you!