4 Tips for Making a Competitive Offer!
It's the "spring selling season" with the lack of inventory, a well priced home sells very
quickly and sellers have multiple offers to choose from! If you've lost out on your dream home,
here are a few tips that can you make your offer stand out and put you in a better position to
get the home?
1. Have a Pre-Approval Letter-- When issuing a pre-approval the lender verifies your
qualifications and an underwriter gives preliminary approval based on the actual home
and a good appraisal. It helps when you work with a local lender and that it
includes how much you're pre-approved for and if you need closing costs, as these are
things that the seller will look at when considering your offer!
2. Offer a Fair Price –In a highly competitive sellers marktet, this is not the time to throw out a
low ball offer and hope they negotiate. Write an honest offer based on market values and comps
then offer your highest best, you might not get a 2nd chance!
3. Flexible Timing – Not everything comes down to price. A seller who is relocating might
be more interested in an offer which gives them extra time to move after closing.
4. Attractive Terms – Most offers include contingencies for items like appraisal, inspection,
and loan approval among others. Working with your lender and real estate agent,
consider removing any contingencies you don’t need. If you plan to remodel extensively
for instance, you might remove the home inspection contingency. This provides more
confidence in your offer vs the competition.
5. Write a genuine, heartfelt letter to the seller letting them know why you fell in love with
their home can make an impact in a multiple offer situation.
The most important thing in a competitive real estate market is being prepared. Working
with your lender and agent, you will understand your options and be able to write a
solid offer quickly, putting you in the best positon to have your offer accepted.
If you're ready to buy your dream home, give me a call...I am here to help!
Kate Ross, Realtor & Home Stager
Kate Ross, Homes and Staging
Coldwell Banker Realty