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In a sellers’ market, buyers face a lot of competition. We want to give you tips on how to make your offer irresistible:
- Pay cash. If you’re able to, cash is a great way to make your offer stand out. Sellers love cash offers because there aren’t any appraisals, loan conditions, etc.
- Get preapproved. Not everyone can make a cash offer; the next best step is to get one or more preapproval letters to show the seller. (Have preapproval letters, not prequalification letters)
- Make the best offer. In today’s market, you can’t make a low offer first. It needs to be full market price or higher.
- Up the ante. There are escalator clauses that allow a buyer to bid a certain amount over another buyer's bid, up to a certain point. This allows you to be made aware of other bids on the home.
- Beef up your earnest money. Showing the seller you have more cash than the average buyer in the market definitely helps your offer stand out.
- Write a love letter. Often times the sale is emotional for the seller. Let the seller know you love the home, why you want it, what you will enjoy about it.
- Gift of time: Give the seller enough time to find a replacement home.
All
these tips will help make your offer one of a kind. Make sure you
have an experienced realtor who can help you with these and has
knowledge of the market.
If
you or anyone you know is looking to buy or sell a home please
contact us at 303.543.3078 or email at kevin@thebyrnegroup.com
