How to get your offer accepted in a Competitive Market:
- Getting tired of getting beat out in multiple offer situation? I sold 49 homes last year, in this extremely competitive and desirable market. Let me show you how I did that.
- Get a great agent!! An excellent agent will make a WORLD of difference, when it comes to giving you every chance at getting the home you want. An agent with a strong reputation in the local market can help a seller's agent to convince a seller to go with your offer. Work with a lender that your agent recommends, if possible.
- Do not make the mistake of thinking that working with the seller's agent will give you some kid of advantage. I have seen so many stories where this was not the optimal route for a buyer.
- If you meet the seller's agent, at an open house, or whatever, be polite. Do not say anything negative about the house.
- If you are looking to purchase a home in a popular neighborhood, in a hot market, you want to make sure to get out to see nay home that is of interest, as soon as possible. I know that, in Scotts Valley for example, some homes in certain neighborhoods are selling within 4 or 5 days of hitting the MLS.
- You MUST be 100% pre approved prior to not only writing your offer, but finding the home you want.
This way you can move quickly when it is crunch time. Working with a good, reputable local lender can also help when it comes to getting your offer accepted.
If you are thinking that you will wait to get approved until you find the right house first, you are fighting an uphill battle.
- Write a very nice cover letter to the seller, include a photo. This is just something short and sweet that basically introduces you and your family, and explains why you love their home. If you want to make this a step further, you might consider sending the seller a short video introduction of you and your family.
- Submit your offer with proof of funds to close.
- Make sure that your agent speaks in depth with the seller's agent to find out what these seller's in particular, would like to see in an offer. Do they need a short rent back, to give them time to move? A longer escrow period, or a quick close. Having an agent who can do the ground work, up front can make all the difference in the world.
- Shortening or even eliminating certain contingencies, depending on what information you have available up front.
- Make sure that you have reviewed all available reports and inspections up front. If it is possible, it is a good idea to review several inspections and reports on other homes before you review those for dream home. These reports can seem overwhelming by nature, especially when you do not see them on a daily basis. A good agent can help you to navigate these, and get you any answers you need.
- There are a handful of formulas that experienced agents use to gauge what a competitive offer will be for a specific property. Obviously a new listing with 8 offers will require a different approach than a 3 month old listing with several price reductions (generally).
- There are a variety of other tactics for getting your offer accepted. If you would like to hear more about this, please give us a call at 831-239-3708. I am Kasey Hinchman here in Santa Cruz. Reminding you that- the right agent and the right strategy will make all the difference in getting the home you want!
If we can be of help, or you would like to discuss how we can make it happen for you, please give us a call at 831-239-3708 or check out www.kaseyandbrooke.com. Use some of the tips in this video. that will make all the difference in getting the home you want! This is just a sampling of some of the things you can do to get the home you want, in a competitive market!