I use to think that a 20% down payment buyer was a for sure thing. In today's competitive market with 10 sometimes 30 offers on the table, a 20% down payment would be considered just the bare minimum (San Francisco Bay Area). I've recently had my share of being out bidded in multi-offer situations and was determined to find out how to get my clients offer accepted under those circumstances. I began my research to find out what kinds of offers were actually being accepted. I quickly discovered that it's not all about the highest priced offered, but more about the down payment. Sure the offer price is important, but certainly not the deciding factor. Because there are many "investors" out there competing with "regular" buyers the "investors" have a lump sum of cash to put down, sometimes even "all cash", so when representing a "regular buyer", if possible, have the buyer put down the most that the buyer can comfortably put down, shorten contingency times, and of course offer an attractive price.
Accepted offer = happy Buyer, happy Agent, referrals, satisfaction!
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