Last time, I discussed how to get your offer accepted in this crazy seller’s market. Today, I wanted to continue that topic with a few more tips so that you can be a more educated buyer.
In a situation in which you have multiple offers on a home to sort through, a buyer can offer something called a tiered offer. Essentially, this is when the buyer gives you permission to take whatever the top offer is and make it so theirs exceeds it by a certain amount. It’s a good way for the buyer to get their offer accepted and for the seller to get more money for their home.
You can also ask the listing agent if they’re going to do a multi-counteroffer. Sometimes they don’t want to; they just want the highest and best. You have to put your best foot forward.
If you’re selling a home and also looking to buy one to move into, here’s what I can tell you: don’t send an offer to my selling client. Not to be rude, but why would I accept that offer and get them tied up in a pending or contingent sale when I could just sell to someone who doesn’t also have a home to sell? If you’re a buyer who also has a house to sell, you need to make sure that your own house is under contract. Having as few contingencies as possible will give you the best chance to get your offer approved.
"Having as few contingencies as possible will give you the best chance to get your offer approved."
We have a lot of cash offers coming in for certain price ranges. Remember that the seller gets a check from title at closing, so cash is not king in a seller’s market. Whether you’re financing or paying cash, the seller wants what the seller wants.
On our website, you can sign up to receive set up alerts for the area(s) that you’re looking in. Our site updates every five minutes, so you can get alerts when something new comes on the market. Be ready to go out and view the property, because it could just be a couple days before that home is sold.
You might also consider buying new construction. If you’re more analytical and you want time to think about things, this will be a good route for you. Also, if you’re a buyer with a house to sell, builders may be the only people who might accept your offer.
As a listing agent, I know how to wade through all this information, so if you have a home to sell or if you’re a buyer who wants the best chance of getting your offer approved, feel free to reach out to me. We can send you details of our marketing plan and give general advice about how to successfully buy and sell.