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SHOW THE SELLER YOU ARE A SERIOUS BUYER
In today's real estate market, buying the first home a buyer falls in love with may be difficult! It may take a few offers to get accepted. It doesn’t hurt to have a war chest of strategies to help your odds in getting your offer accepted.
Don’t low-ball the seller. Be prepared to pay fair market value. Low-balling may alienate the seller right off the bat. And it wastes everyone’s time. Plus while you are messing around, chances are another offer is being accepted. Get serious.
Put your best offer as your first offer. You may only get one chance to come in at the top dollar you are willing to pay for the home or that your lender is willing to lend based on your income and credit score.
Don’t request favors of the sellers. Asking for additional appliances, furniture, fixtures, or repaint the front door could hurt your offer and get you put at the bottom of the pile.
Be flexible with your timing. The more flexible you are with the timing of the seller’s move, as to how quickly or slowly their needs are to move can give you a great advantage over other offers.
Increase Your Earnest Money deposit. A larger earnest money deposit may appeal to a seller. Ask your agent for advice. You might consider doubling or tripling that amount. You're going to pay it anyway at closing.
Limit the contingencies. Get a pre-inspection. Anything you can do to speed up the buying process and make it easier for the seller might improve your chances.
For all of my tips for buyers to succeed in today's market download my eBook here.
Content by Tom Lois Santa Rosa Realtor