Getting Your Offer Accepted

By
Real Estate Broker/Owner with Innovative Realty Solutions Group BK3158345

Buyers are struggling to get offers accepted in this solid sellers market.  But are they putting in their best offers?

I got a full price offer on a $300,000 property with $1,000 escrow recently and it included a 15 day inspection period, 45 days to close and they wanted $9,000 closing cost help.  

To get your offer accepted, put in your best price, at least 1% escrow and more, if possible.  A higher escrow amount shows you are serious about purchasing the property.  .The inspection period as short as possible and close in 30 days.  Do not ask for seller paid closing costs. 

Show the buyer the list price to selling price for your market.  In my market, it's nearly 100%.  In other markets, it's much lower.  You can't offer 20% less in my market and depend on a counter offer.  

NAR said yesterday that in February, there were 4 offers for every pending contract according to their survey.  NAR said last week, there are more REALTORS(r) than active listings nationwide. 

Always put in your highest and best offer!  There really is no law that says a seller must counter the offer.  

 

Comments (4)

Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Dee - real estate offers an endless supply of head-scratching moments.  Understanding not only the big picture but the smallest details as well as understanding local nuances can make a significant difference.  And that difference can mean winning versus losing.  

Mar 30, 2021 06:57 AM
Dee Toohey

Spot on, Michael.

Mar 31, 2021 01:58 PM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Dee! Great advice for buyers agents. Especially EMD

Mar 30, 2021 08:13 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Dee,  Your best foot foward is what agents need to advice their clients.  Not like a buyer market now.

 

Mar 30, 2021 09:14 AM
Anna Banana Kruchten CRS, CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Hi Dee I can't imagine a buyer asking for closing cost assistance in our hot market......highest and best upfront or don't bother.  That is the way it is right now.

Mar 30, 2021 02:40 PM
Dee Toohey

Anna, I agree!  Don't waste time playing games. 


 

Mar 31, 2021 01:59 PM