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5 Ways to Get Your Offer Accepted

Here are five tips for getting your offer accepted in this hot market.

As you likely know, we’re still in an especially hot seller’s market, and many buyers have lost out on homes because of the intense competition. Buyers are looking for solutions and ways to be competitive, so here are five ways we’ve helped over 100 buyers go under contract so far this year:

1. Use a strong, local lender. Getting pre-approved is no longer just a good idea—it’s a necessity in this market. In the past, you could do this step after finding the home you wanted to make an offer on, however, most great homes are currently selling within hours of being listed, and buyers without pre-approvals aren’t even being considered. The strong listing agents know the best lenders in our market who have the reputation of being excellent to work with and get their loans closed on time. Buyers working with lenders like these have a clear advantage. 

2. Write a personal letter to the seller. Plenty of buyers are including a letter in their offer that introduces themselves to the seller and expresses why they’re so interested in their home. That tends to get a buyer and seller off to a fantastic start and help with a friendly, smooth transaction. 

3. Offer a higher amount of earnest money. Sellers consider those who are willing to put higher amounts of money in their offers as lower-risk offers. We’re seeing buyers offer as much as 1% of the purchase price as earnest money. For example, $4,000 of earnest money would be offered for a $400,000 home.

“We sincerely hope your next offer is accepted.”

4. Write in an appraisal gap. Putting this in the offer means the buyer is agreeing that if the home were to appraise for a lower price, they would cover the gap in cash, ensuring that the seller gets a full-price offer. This has become more frequent and almost necessary when houses are selling for so much over the list price.

5. Give the seller flexible terms on possession. Quite a few homeowners would sell if they were allowed to rent back their current home long enough to find and close on their next house. The buyers who are willing to offer that have created a win-win for both parties. 

This real estate market is insane; we’ve been referring to it as the Wild West, where almost anything goes. Homes are still being bought and sold quickly. 

We sincerely hope your next offer is accepted. As always, if you have questions about our market or are considering buying or selling, our team is here to help. Call or email us; we’d love to be your real estate resource.

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