Hey there homebuyers! Are you frustrated with the current real estate market? In this crazy multiple offers environment. Some buyers are struggling to get their offers accepted.
Today I’m going to share some strategies to help you win that dream home in this video below 👇
#1. LENDER COMMUNICATION
First things first, make sure your lender is actively involved in the process. They need to call the listing agent and vouch for your qualifications. If you’re approved for a higher amount than the home’s price, let your lender inform the agent about it. This demonstrates your financial strength and increases your chances.
#2. OFFER ABOVE LIST PRICE
Next up, be bold and offer more than the list price right from the start. This sends a clear message to the sellers that you’re serious and committed to buying their house. It grabs their attention and positions you as a strong contender.
#3. EARNEST MONEY DEPOSIT
To further showcase your commitment, offer a substantial earnest money deposit. This deposit shows the sellers that you mean business and are willing to invest a significant amount towards the purchase. Plus, this money will ultimately go towards your down payment anyway.
#4. ESCALATION CLAUSE
Now, let’s talk about the power of an escalation clause. After offering more than the list price, decide on your ‘walk away’ price—the maximum amount you’re willing to pay. Then, use an odd increment, like $1,075 or $1,550, to outmaneuver competing offers that are using round numbers like $1,000 or $1,500. This strategic approach could give you the edge you need.
#5. UNDERSTAND SELLER PREFERENCES
Remember, it’s not just about the money. Your agent should reach out to the listing agent to understand what’s important to the sellers. Do they need a rent-back period? Do they prefer a longer or quicker closing? Knowing these preferences allows you to structure an offer that aligns with the seller’s needs.
#6. OPEN COMMUNICATION
Lastly, keep the communication lines open. Ask your agent to inquire if there’s anything else you can do to make your offer more appealing. The sellers may request something that you’re not comfortable with, but at least you’ll have the opportunity to consider their ask and make an informed decision.
And there you have it! Winning a home in a multiple offers situation can be challenging, but by following these strategies, you’ll be one step closer to getting the keys to your dream house. Good luck on your homebuying journey!
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