How to get an offer accepted? Use a Realtor! I wrote this post a while back and now after reading it I find it how true this post was then and how it is timeless now.
Many buyers are asking on various Internet portals how to get an offer accepted. My answer has not changed and the answer is still the same: That is easy, use a Realtor. The multiple offer phenomenons have returned in certain markets. Where is that? The areas are in the Short sale and Bank-owned property. This market is smoking. (Ironically this statement has expanded to all properties)
I have buyers who have submitted at least 15 offers. Forget low balls, think full price and above asking price. Then why is my offer still not accepted? Buyers ask these questions. How is it that the lower priced offer got accepted? The answer is they had cash, you have FHA. Many private remarks to agents state NO FHA. As discouraging it is you still have to keep going. Now the great news comes CONGRATS, your offer has been accepted, six, seven, eight months later still no Closing. Why is that? It is called SHORT SALE!.
This process is tedious and lengthy. Do you have to patience for this?
I just closed on a Bank Owned Property, after four different attempts. Why did it take this long? The buyer had all cash, we needed to learn, that automatic low balls do not get acceptance. We were in multiple offers all four times. We missed out four times. Then as luck would have it, the first buyer did not perform. Said they had all cash, truth be told they were exaggerations. Then the second buyer did not perform either. So you would think we automatically came in. No, we had to give best and final to compete with three other buyers. So an All Cash nine day escrow with virtually no contingencies and a million dollar got us a property.
Now what did it take to get the offer accepted? The answer is a good strategy, good financial status and a strong stomach to take on a fixer with virtually no contingencies and a Realtor that guided the buyer through these turbulent negotiations. So we had a happy ending on the REO.
We are still waiting on the Short Sale, patience is a virtue. We are being virtuous.
Clearly this post is still viable for today's buying environment the only difference eight years later is that we do not have any REO's or Short Sales to speak of. Never the less the buyer's environment is identical. Lack of good inventory and many buyers competing for the same few properties. Hence you need a seasoned Realtor who can help you achieve your Goal of purchasing a home in the Greater Los Angeles area!
If you are looking for a focused and goal-oriented Realtor in the Beverly Hills area who will help you achieve your Real Estate goals, please reach out to me directly!
If you are looking for a pet friendly Beverly Hills Realtor who can handle and sell the most difficult properties that no one else could, please reach out to me directly!! If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 (m) or email@example.com or visit one of my websites at http://www.endrebarath.com I contribute a portion of my commission to local animal rescue organizations.