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Real estate multi counter offer contract6/10/2023 See it from the seller's point of view: Using a simple net proceeds calculator in Excel will help you better understand the sellers point of view. The owners thought our bid was hilarious and totally gutsy, so they accepted it with a huge smile! Three other offers came in at full price. We love this story by our founder, Scott Westfall: I once had a client bid just $10 over the asking price of a property. It would look something like this: “My current is currently $275,000, and I will pay $1000 more than any other offer up to $305,000.”īe a little unconventional with your bid. When submitting your offer, consider including an escalation clause stating that you want to automatically increase your offer if someone outbids you (up to a certain amount). Include a Purchase Price Escalation Addendum. But you can guarantee that you won’t ask the seller to make any repairs from the home inspection if they accept your offer. Making an offer contingent on a home inspection is a must usually for the savvy buyer. Show the seller that you are serious about purchasing their property by increasing the amount that you put up as earnest money once your offer is accepted.Īssure the seller you won’t ask for repairs. When buyers are bidding for homes, the amount of money you agree to place in escrow to guarantee your investment in the house can go a long way. Increase your earnest money deposit to show you are serious. (A benefit for first-time homebuyers - they usually don’t have contingencies to work around!) When possible, avoid making your offer contingent such as things like your current home selling or someone else in your family seeing the property. Within 30 days is a good target.Īvoid contingencies. Unless the listing agent has disclosed the seller’s desired sale date, agree to close on the property as quickly as possible. By offering to also cover a portion of the seller's closing costs, you'll incentivize them to choose your offer while avoiding having to guarantee cash over the appraisal value (which, if you are buying with a VA Loan, you can't do).Ĭlose quickly. Pay a portion or all of the seller's closing costs. It’s all about the seller’s net gain in the end, so plan to cover your own closing costs. Put your best foot (and best offer) forward from the start on a well-priced property.
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