4 Tips For Making a Competitive Offer

Most areas of the country are experiencing a brisk real estate market. Well priced homes are moving quickly and o<en sellers have mul=ple offers from which to choose. How can you make your offer stand out and put you in a beAer posi=on to get the home? Fortunately there are a few things you can do to make your offer more aArac=ve to sellers.

4 Tips for Making a Competitive Offer

1. Offer a Fair Price – When the market is moving quickly, this is not the time to throw out a low ball offer and hope they negotiate. Write an honest price based on market values.

2. Have a Pre-Approval – It may not be enough to simply offer a pre-qualification 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.

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 =me to move.

4. Attractive Terms – Most offers include contingencies for items like appraisal, inspection, title, loan approval among others. Working with your lender and real estate agent, consider removing any con=ngencies 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.

The most important thing in a competitive real estate market is being prepared. Working with your lender and agent, you will understand your op=ons and be able to write a solid offer quickly, puLng you in the best positon to have your offer accepted.