Here’s how you can make your offer stand out in our crazy market.

As you probably already know, we’re living through a crazy seller’s market right now. As a buyer, how do you compete? Today I want to give you my best advice to make your offer stand out in a competitive market. 

In our experience, the best way to get a seller’s attention is with the price tag. Make room in your budget to offer above the list price upfront. We’ve found that offering five to 15% above the list price usually wins a home. 

“Work with your agent to find out what’s best for you.”

The other big thing you can do to make your offer more attractive is to let go of some contingencies. Typically, an offer has an inspection, appraisal, and financing contingency. I do not recommend you waive your inspection contingency; it’s too risky. However, you can lower the length of the inspection period to reassure your seller. 

For the appraisal contingency, work with your agent to find out what’s best for you. You will probably either have to waive it completely or bring extra cash to the closing table to make up a potential gap. 

The last contingency is the financing contingency. If you can get rid of this contingency, your offer will be much stronger, but this isn’t an option for everyone. Talk to your lender and your agent about what makes sense for your situation. 

If you consider these factors, you can make sure your offer wins in this hot market. This was a lot of information to cover, so if you have any questions, please call or email me. I am always willing to help.