WHAT MAKES AN OFFER COMPETITIVE?
THREE KEY COMPONENTS, MONEY, RISK & TIMING!
1. OFFER AMOUNT
The Bottom Line Talks! This is pretty straight forward and in a competitive situation (which I will help you gauge), IF it’s the home for you, put your best foot forward as you may not get a second chance since the seller may only counter the top offers if they counter at all! In a noncompetitive situation (which in today’s market is almost nonexistent), the strategy of course varies.
2.HOW MANY CONTINGENCIES AND THE LENGTH OF EACH CONTINGENCY
A contingency allows buyers to cancel the purchase contract, so in the eyes of a seller, they see risk in each contingency. Appraisal, Finance & Inspections are the most common contingencies. In a sellers’ market, anytime you can reduce the number of days for the contingency or remove the contingency all together, it will add strength to your offer. If there are things you can complete prior to placing the offer such as a pre-sale inspection, do it since it will protect you in completing the inspection, but on the same hand let you go in without that contingency. An easy way to shorten a timeframe on a contingency is to get your loan file reviewed (before you even find a property) by an underwriter so your file is “conditionally approved” which speeds up the finance contingency period. I will work for you behind the scenes with banks, mortgage brokers and inspectors to tighten up timelines or perform due diligence to get you to the point where you can remove them all together.
3. HOW FAST YOU CLOSE
In most cases, the faster the close the better. Bottom line, once a seller decides to sell, they want to complete the transaction, pull their money out of the investment and move on.
And to bring it all together……My relationships within the broker and realtor community plays a key role. There is a lot that happens behind the scenes that can make a deal go sideways, but I am known for getting the job done! Sellers want to know the deal will get done so listing agents want to work with an agent they can trust to get the job done. And that’s me!
The homework we do together to prepare the components of your offer coupled with how I present the final offer package will get the attention of the listing agent and seller as a solid, comprehensive and strong offer that will see the finish line for both the seller and buyer!