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How to Craft a Strong Offer When Purchasing a Home

If you’re looking to buy a home in our market, you’ll need to get creative with your approach. I’ll go over how to do that today.

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We are in a white-hot seller’s market right now, which is great news for anyone selling their house. Multiple offers mean a higher sale price and a very successful time on the market. However, buyers are having a tough time snagging their dream homes. If you’re a buyer, how can you finally get your offer accepted and move into a new home?

First and foremost, don’t get emotionally attached to a home. Also, make sure you are pre-approved, not just pre-qualified for a loan. Cash offers are always best, but if you need financing, get pre-approved before you submit an offer.

Your first offer needs to be your best offer.

Don’t load up your offer with contingencies either. If you need to sell your house before you purchase a new one, sell it before submitting an offer on a new home. You’ll also want to tailor your offer to the seller’s needs. Find out what closing date works best for them or if they need any flexibility to really make your offer stand out.

If you have a good agent, have them add an escalation clause to your offer. That means you would offer, for example, $500 more than any other offer up to a certain point.

Finally, make sure your best offer is submitted first. Don’t play games!

If you have any other questions about buying a home in our seller’s market or if you have any other questions, feel free to give me a call or send me an email. I’m always happy to help.

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