We make it our mission to treat clients like family, and they return the favor by welcoming us into their homes for holiday drop-ins! But the best holiday gift we could receive is your referral. And we even offer a special bonus. When you refer a friend, colleague, client, or family member to work with us, they’ll get world-class service AND we’ll donate $500 to the local charity of your choice!
You don’t have to take our word for it. Housing demand and short supply is making this a sellers’ market, and bidding wars are becoming more common. Think you’ve had a rough time? NPR has the story of a couple who bid on 40 homes — with nothing to show for it.
Lately, we’ve seen a lot of buyers' fatigue and clients who wanted to give up. We’ve also been in multiple bid situations that went more than 40% above the listing price. Here’s how to stay competitive:
Position your financing like a cash offer – Offers with non-contingent financing are proving just as strong as all-cash, and down payments over 30% are very competitive.
Bring your best offer, not your best price – Stand out with a flexible or quick closing date, depending on the seller's preference.
Find a good communicator – Your agent's relationship with the listing agent could make all the difference in negotiating a mutually beneficial offer.
That’s all good, but what is it’s still not enough to get the job done?
Consider waving and/or minimizing contingencies – This can be a gamble, but it's growing more prevalent. That’s why it’s important to have an agent to guide you.
Put more skin in the game – Pay the initial 3% deposit within one day of your offer being accepted, buy a one-year home warranty, and more.
Know when to walk away – In the end, you may get out-bid, no matter how strong your offer or how well positioed. Sometimes the smartest move is moving on.
Want to learn more?
You found a house that’s a perfect fit, and you want the seller to know. Should you write them a note to include with your offer?
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