TIPS FOR BUYERS
POSITION YOURSELF FOR SUCCESS
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.
SHOW THE SELLER YOU ARE A SERIOUS BUYER
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 READY TO PAY MARKET VALUE
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.
STAY CALM & BE FLEXIBLE
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.
START WITH YOUR BEST OFFER
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.
INCREASE EARNEST MONEY
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.
DON'T ASK FOR THE MOON
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.