Imagine finding a home you love, making an offer, and then finding out there are other competing offers on the table. Ouch.
If you’re looking for a property in a competitive market, it is likely that there will be multiple offers. Even just one can create the risk that you’ll lose the home. So how do you make sure your offer is enticing enough to win over the seller? Here are some ideas:
- Don’t make a low-ball offer. If you do, it might be dismissed and you probably won’t get another change to bid – especially if the other competing offers are near the listing price.
- Have a pre-arranged mortgage and include that with your offer. This reassures the seller there won’t be any money issues. (Most lenders will provide you with a pre-arranged mortgage certificate for this purpose).
- If the Seller is not providing a current home inspection, consider having one down before submitting a competing bid.
- Go in with a price high enough that the seller will be interested, but not so high as to be leaving money on the table. This is tricky and requires a savvy knowledge of the current market.
- Have a REALTOR present the offer on your behalf. A REALTOR will know how to do so professionally, and in a manner that gives you the best chance of getting the home.
In a competitive situation, working with a REALTOR who is an expert on the local market – and a skilled negotiator – is crucial.
Looking for a REALTOR like that? Call me today!