Advice with a good Real Estate agent to win in Multiple Offers
This is a hard time for many buyers with most homes having multiple offers buyers are having to offer the sun, the moon & the stars for the seller to even consider their offer! They have to submit a their best offer with favorable terms for the seller . This does not necessarily mean the highest price!
So what are favorable terms? Here are some I think could help your offer:
- Make your offer price reasonable-Anyone can throw out a huge number, but can they back it up? Consider an appraisal waiver, full or partial, showing your offer is solid.
- Pay for title policy- this is a negotiable item but the seller usually does pay it, to prove they have clear title & it protects you against future claims from anyone claiming to have a share to the property.
- Make your inspection period minimal-Inspections are important & I do recommend one but don't ask for a 10 day inspection period. Inspectors know our timelines & can accommodate an inspection in a few days.
- Pay for a new survey-If you are financing, your lender will want a new survey. Offer to pay for your own new survey.
- Purchase your own home warranty-These warranties are a great thing to have after you move in, as they may cover the mechanical's of your home should something go wrong.
- Close quickly-When in competition, it is a must to offer a quick close. Make sure you have started the lending process & have a lender who can close in 30 days or less.
- Offer a sellers temporary leaseback-This allows the seller to move a few days after closing so they aren't pressured to move out prior to closing. This will give them peace of mind!
- Pay all of your own closing costs-Sellers do look at their bottom line & helping you with your closing costs will most likely have them pass on your offer.
- Have your agent submit a clean contract in one PDF-The listing agent must submit all offers to her sellers so make it easy on them. A clean contract that they don't have to piece together is a positive!
So find a good real estate agent who has experience in multiple offer situations to help you submit a winning offer!