Here are four easy and effective ways to make your offer stand out.
“How do I get my offer accepted?” I receive this question all the time from buyers. Interest rates are climbing, and there’s a lot of uncertainty in our market, but sellers still have the upper hand. Inventory remains low, especially for homes under $500,000. To help out buyers, I want to share four tips to get your offer accepted:
1. Offer over the asking price. Even as little as $2,000 over the asking price can make you stand out to your seller. A price increase this small will have minimal impact on your monthly payment, but it could be the push your offer needs to get accepted. You may even want to talk to your agent about using an escalation clause.
2. Limit your inspection time. I don’t recommend waiving your inspection altogether; it’s too risky. However, the less time you spend on your inspection, the happier your seller will be. Three or five days should be plenty for a good inspector to get a good look at a property.
“Find out what your seller needs and give it to them. ”
3. Cover the appraisal gap. Homes have appreciated so much recently that many don’t appraise. If you offer to make up the difference between the appraised value and the final price with cash, you will gain a huge advantage over your competition.
4. Be flexible. Have your agent reach out to the listing agent and ask what your seller needs. If they need more time to close, give it to them. If they need a quick close, see what you can do. Find out your seller’s needs and meet them to stand out from the crowd.
If you have questions about today’s topic or anything else, please call or email me. I am always willing to help!
