The current real estate market is very different from recent years. Limited inventory in almost all price ranges has created increased demand for many homes. The homes with the greatest interest are the homes that are well priced, in good to excellent condition and staged well so that photographs highlight the best features of the property.

If you are currently in the market to purchase a home, depending on your criteria, it is likely that you may select a home that other buyers are also interested in and find yourself bidding on a property in a multiple offer situation. If this happens to you, there are some things you can do to your offer that may help it stand out from the others.

  • Price is important but don’t forget the other terms of your offer. Have flexibility where you can. If the seller wants to move quickly or stay longer, offer to adjust your closing time to accommodate their schedule. A larger earnest money deposit is another term of the contract that can make a big impact.
  • Consider including a letter to the seller with your offer. Home negotiating is pretty impersonal in today’s technology filled world. Most offers are completed online, executed with digital signatures and submitted by email. A personal touch (even it the letter is emailed) can make your offer stand out. Share what you loved about their home and what you are looking forward to about living there. Appealing to their emotional side in this way may make just the impact you need to land your offer on top.
  • Remove as many contingencies as you can from your offer. Most people need financing when purchasing a home so that one will likely have to stay but if you are comfortable purchasing the home as is, that might be a big incentive to the seller. You could still choose to have a home inspection so that you know the condition of the property, but you would just buy the home without asking the seller to make any repairs.
  • I said price isn’t the only factor, but price is still most important to many people. If you really want the home and think lots of other people do too, consider making an offer above the listing price. This will show you are really serious about the property. If you think the home will only appraise for the price it is listed at and not for the amount you are offering to pay, make it clear if you are willing to pay more than the appraised value.
  • Make sure to include documentation showing you are qualified to purchase the home. A preapproval letter for a mortgage or proof of funds if you are paying cash are critical to sellers taking your offer seriously.
  • Don’t request the seller leave lots of personal property. If you want their washer and dryer, they will have to buy new ones, which means they have to spend some of the extra money you paid them so just purchase your own once you close on the property.
  • Don’t ask the seller to pay your closing costs. In some price ranges this is very common but paying your own is just one more reason your offer will look better than the next one.

There are many terms to an offer and it can be really hard to know what the best thing is to do. It is critical to have a trusted real estate advisor to guide you through the home buying process. They will work with you to determine the best terms for your offer if you really want the house.

Contact me today for a consultation. I will be happy to answer any questions you may, help you determine the value of your home or help you find your dream home.

Maureen Cool, CRS
RE/MAX Realty Plus

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Maureen Cool is your ultimate real estate resource for Sebring, Avon Park and Lake Placid and surrounding areas. Visit my website for detailed information regarding today’s real estate markets.

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