Who would have thought that the market would be where it is today with the minimum levels of inventory. This is lead to a buyers having multiple bidding wars to obtain a home. Here are some successful strategies to assist you in winning your next bid:
1. Strong Earnest Money Deposit-10% usually seals the deal!
2. Short inspection or Due Diligence Period- Three to Five days preferably.
3. Working with a lender that has already provided you with an underwritten approval
4. Adding an Escalation Clauses *See RE/MAX Premier agents for this to ensure that you aren’t over paying for the property.
5. Working with a reputable lender that the listing agent may know about
6. Having the lender call the listing agent the moment your offer has been presented to let them know where you are in the credit/approval process
7. Letting the seller know that your offer is an As-is offer impresses the seller because they know that you will not ask for any repairs thereafter. Consult with your RE/MAX Premier agent to ensure that you aren’t getting any code related defects in the property
8. Adding a stipulation in the contract that gives the owner time to lease back if necessary –This is becoming more common as the inventory levels are staying low sellers aren’t truly sure on where their next move is.
9. Going over asking price- Be sure that your RE/MAX Premier agent includes an appraisal contingency to prevent any discrepancies.
10. Submitting a Buyer Cover Letter to your offer. If not in the form of a cover letter we have had purchasers send Next Day Air heart felt letters to the seller as long as this was within the expiration dates of the original offer.
Happy House Hunting! Let a RE/MAX Premier agent show you how we are selling homes in “Today’s” Market!