Tips for Buyers
SHOW THE SELLER YOU ARE A SERIOUS BUYER
In today's fast real estate market, it may be difficult to get your offer accepted on the first home a buyer falls in love with! Remember, it may take looking at a lot of homes and putting in a few offers to get one accepted. It doesn’t hurt to have a war chest of strategies to help your odds in getting your offer accepted. When inventory is low, time is of the essence.
Don’t low-ball the seller. Be prepared to pay fair market value. Low-balling may alienate the seller right off the bat. And it wastes everyone’s time. Plus while you are messing around, chances are another offer is being accepted. Get serious.
Be flexible with your timing. The more flexible you are with the timing of the seller’s move, as to how quickly or slowly their needs are to move can give you a great advantage over other offers.
Put your best offer as your first offer. You may only get one chance to come in at the top dollar you are willing to pay for the home or that your lender is willing to lend based on your income and credit score.
Increase Your Earnest Money deposit. A larger earnest money deposit may appeal to a seller. Ask your agent for advice. You might consider doubling or tripling that amount. You're going to pay it anyway at closing.
Don’t request favors of the sellers. Asking for additional appliances, furniture, fixtures, or repaint the front door could hurt your offer and get you put at the bottom of the pile.
Limit the contingencies. Get a pre-inspection. Anything you can do to speed up the buying process and make it easier for the seller might improve your chances.