How to get your offer accepted on a house
It’s tough getting your home offer accepted in today’s market. How to get your offer accepted on a house?
Here are 10 ways to get YOUR offer accepted – even in the most competitive real estate market the U.S. has ever seen!!
1. Be the first to view a home and put in an offer. You need to be ready to submit an offer as soon as you see the home – there are also a lot of buyers who put in offers site unseen.
2. Offer above asking and/or include an escalation clause. The escalation clause basically states and offer but then tells the seller if there are other offers, you will increase your bid by X amount but not to exceed a final number. This can be helpful or unhelpful to the seller depending on the situation.
3. Be open to an appraisal gap (or waiving the appraisal). If you’re financing, the bank will make sure your home appraises at or above the sales price. But in this market homes are selling over appraisal value, which means you may need to have the cash to make up the difference.
4. Beef up your earnest money. This one is obvious, seller’s like to see as much money in a deposit as possible, it shows them you’re serious and won’t be backing out.
5. Gather a large(r) down payment or pay cash if you can. Cash is king in this market, so what if you can’t pay cash? Well there are creative ways around this, which I can guide you with, I don’t want to give all my tricks away on here, so if you’re concerned but ready to buy, let’s talk before you submit an offer.
6. If you’re not paying cash, Get pre-approved by a local lender, I also have some tips for financing if you have to go this route.
7. Offer to pay the seller’s moving expenses or get creative in an offer. There are different things you could offer the seller to stand out among multiple offers, again we can talk about different options that have worked in the past.
8. Defer closing terms and timeline 100% to sellers. If you’re flexible with timing, whether it’s
9. Some agents suggest waiving the inspection contingency (can be tricky…), I do NOT recommend that unless but you can cut the inspection timeframe down.
10. Eliminate financing contingencies. This is also tricky but an agent can help you mix and match any or all of these to present sellers your best and final offer right from the beginning.
It is possible to get the home of your dreams even in this market—it just takes a little creativity and a savvy agent! I’d love to help you walk through different options to help you score the right home. If you want me to share my secrets with you, call me today at 239.776.0093.
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Kim Menkhorst, Premiere Plus Realty 239.776.0093