As Rick Laws (of Pacific Union) mentions in his 2nd quarter real estate report, the Bay Area experienced over 30% increase in homes sold compared with last year. A 30% increase!
The big question is: “How does a Buying Agent get their Buyers to write the offer that gets accepted?”. The answer is: “ They make the strongest offer.” But what does this mean?
Below are some very successful points of advice that, when followed as much as possible, will definitely contribute to a successful accepted offer:
<!--[if !supportLists]-->A. <!--[endif]-->Higher initial deposit.
<!--[if !supportLists]-->B. <!--[endif]-->Shorten close date.
<!--[if !supportLists]-->C. <!--[endif]-->Remove as many contingencies where possible. (For example, an investor or flipper who will remodel the home and resell or rent it, might go for removing inspection contingencies.)
<!--[if !supportLists]-->D. <!--[endif]-->Stronger loan; Shorter loan contingency removal date; No loan contingency at all. (This can be accomplished by getting a hard money loan for example.)
Why should a Realtor or Buyer for that matter consider following the above points of advice to increase the likelihood of getting an accepted offer? How about for these 4 main reasons to own a home:
<!--[if !supportLists]-->1. <!--[endif]--> Tax Savings.
<!--[if !supportLists]-->2. <!--[endif]-->Pride of Ownership.
<!--[if !supportLists]-->3. <!--[endif]-->Appreciation.
<!--[if !supportLists]-->4. <!--[endif]-->Accumulation of Wealth. (For renters, if rents go up in the next 30 years at the same rate they did over the prior 30 years then someone renting today for $1,600 will be paying $4,496 in 30 years. 30 Year Fixed rate mortgages stay the same and one can pay down their home and increase their equity, ie. accumulation of wealth.)
Watch this quick live interview on how to land more success in your real estate purchase contracts, translating them to accepted offers. As well as what types of loans make stronger offers - http://youtu.be/lG-_9CFhi94
In today’s real estate market, houses are just increasing in value so Buyers are making smart decisions for their future financially.
Hard Money can definitely help make an offer “strong”. I work with Buyers who have damaged credit including a bankruptcy, foreclosure or short sale in the immediate past. With a good down payment and an ability to show you can pay for the loan, you can get a loan and be a homeowner today. So call me!
Forest Tardibuono- the Guy in the White Hat - is a CA DRE Broker with more than 24 years of experience in real estate and lending. His phone number is (707) 523-2099. Email is Forest@sunpacmortgage.com. See newly designed website @ www.sunpacmortgage.com. DRE license #01464899. NMLS #360993.