Buying Real Estate

A great house just came on the market and in your price range too.  If you’re looking to purchase a home soon, you may run into a situation where you are competing with other buyers for the same property.  If you’re at an open house with your buyers agent and it’s really busy,  how do you make your offer stand out? You have to expect that other offers will be coming into the sellers agent.  However, I have held open houses that seemed crazy busy and there was only one offer and I have been with buyer clients and expected several offers, but my clients were the only ones making a move. You never know, so I recommend offering the asking price (not above or below) in this situation.  If you’re offer is below and someone offers asking, you lose.  If you offer more than asking you might pay more than you have to.  If there are several offers, the sellers agent will most likely inform the buyer agents of this and ask for best and final offer.   This gives you the option of increasing your offer.  Here are some other tips on making your offer stand out:

• Prequalified Letter from Lender
• Cover letter
• Wave the Inspection or Financing contingencies
• Cash offer
• Flexible closing dates

 

Thanks for reading!

 

Michael Spurr, Realtor