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.