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Sometimes when you find the perfect home, you aren’t the only one that sees it as such. Sometimes you will be one of multiple offers on a property, so you’ve got to be able to distinguish yourself from other buyers. Today we are going to talk about how to make yourself more desirable in a bidding war.
If you do find yourself in a multiple offer situation, you’ve got to make yourself more desirable to the seller when presenting your offer. We have got a few great ideas for you today that should help you out if you find yourself in a situation like this.
1. Get pre-approved
Having that letter in your hand is huge, because you know you can make an offer when you find that perfect property and you’re not scrambling to make a decision. You also know exactly what you can afford, which is helpful as well.
2. Make the terms of your offer more desirable
There are many ways you can do this. One way is to provide a higher down payment, which makes you more desirable to the lender and the seller. Have all of your paperwork in order so you are ready to present your offer.
3. Forget lowball offers
In multiple offer situations, properties often sell for over list price, so low ball offers aren't going to work here.
4. Keep contingencies reasonable
There are some more little things you can do here to strengthen your offer, such as shortening or lengthening the inspection period. Tailoring your offer to the seller’s needs will make them want to choose yours more.
These are just a few key items that will help make you more desirable when you are making an offer. If you have any questions about this topic, or about anything else relating to real estate, give us a call or send us an email. We can’t wait to hear from you!
If you do find yourself in a multiple offer situation, you’ve got to make yourself more desirable to the seller when presenting your offer. We have got a few great ideas for you today that should help you out if you find yourself in a situation like this.
1. Get pre-approved
Having that letter in your hand is huge, because you know you can make an offer when you find that perfect property and you’re not scrambling to make a decision. You also know exactly what you can afford, which is helpful as well.
2. Make the terms of your offer more desirable
There are many ways you can do this. One way is to provide a higher down payment, which makes you more desirable to the lender and the seller. Have all of your paperwork in order so you are ready to present your offer.
3. Forget lowball offers
In multiple offer situations, properties often sell for over list price, so low ball offers aren't going to work here.
4. Keep contingencies reasonable
There are some more little things you can do here to strengthen your offer, such as shortening or lengthening the inspection period. Tailoring your offer to the seller’s needs will make them want to choose yours more.
These are just a few key items that will help make you more desirable when you are making an offer. If you have any questions about this topic, or about anything else relating to real estate, give us a call or send us an email. We can’t wait to hear from you!
