If you find yourself in a multiple offer situation, I'd like to share some effective strategies to help you gain a competitive edge. Our goal is to guide you towards securing the home with the best price and terms.
Before we discuss specific strategies, please review the information below to familiarize yourself with the terms and phrases we'll be using:
- Demonstrate a Strong Financial Position
- Obtain approval from a local lender who can verify your qualifications over the phone.
- If confident in your financing, consider waiving the financing contingency.
- Increase your earnest money deposit to signal financial stability and commitment.
- Shorten or waive the appraisal contingency to make your offer more appealing
2. Pre-Inspection and Inspection Contingency
- Conduct a pre-inspection before the seller's deadline, if allowed.
- Discuss the option of a "Void Only Home Inspection Contingency"
3. Appeal to the Seller
- We will gather crucial information from the listing agent.
- Accommodate the seller's settlement preferences, including rent backs, if reasonable.
- Write a personalized letter to the seller and include a photograph.
4. Escalation Clause
- Consider including an escalation clause, stating your willingness to increase your offer based on competing bids.
Ultimately, sellers often choose buyers who are likely to close the deal without delay or complications. Demonstrating your strong qualifications and working with an experienced agent will help boost your chances of success.