In the crazy market we are in, with the lack of inventory, it is important your offer stands out and makes the seller scream "SOLD!" when they see your offer. Below are tips for you and your real estate agent to ensure your offer gets the most attention.
1) Make It Clean - Do not ask for anything extra. If you can, pay your closing costs, don't ask for them to be paid by the seller. That beautiful sofa in the living room, don't ask for that either. I will always ask the seller for a home warranty and I always ask my clients to get a home inspection when purchasing. Where I encourage my clients to make a concession is do not ask for repairs after the home inspection.
2) Give the highest offer you are comfortable with. An extra $2,000 dollars equates to about $12.00 a month in your payment. Wouldn't you hate to lose the home over $12.00 a month.
3) Bump up the Earnest Money Deposit. If they are asking for $2,000 EMD offer $2,200. The seller will appreciate the gesture and know you are a serious buyer.
4) Have your agent contact the selling Realtor. Know how many offers you are competing with and when the offers will be presented. This will give you insight as how you need to structure your offer.
5) Pay cash or offer additional down payment if you can. Home sellers love cash.
6) Don't get emotionally attached. This goes even after your offer is accepted. If you are financing you need the property to appraise and if it is a short sale, the mortgage holder (bank) can come back a month or so later and say, sorry, we need X amount of dollars.
Just keep a stiff upper lip in the home fight and remember at some point you will WIN!
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