Presenting an Offer in a Seller’s Market
There is no question that we are in a seller’s market right now. I’ve mentioned many times lately how the offers I’ve been dealing with, both on the seller and buyer side, have been multiple offer situations with homes selling $20,000-50,000 + over the asking price. It’s been crazy lately! When you are a buyer in this kind of market, it’s really important to position yourself to be the successful offer and I have some strategies to help make your bid stand out against the others. You only have one chance to make a first impression!
- Make your offer simple and appealing. Don’t include unnecessary terms, like a cleaning clause, keep the condition timelines as short as possible and work with the seller’s desired closing date.
- Money talks, so if you know you are in a competing offer situation be prepared to offer more than the asking price. Include a healthy deposit as well as an additional sign of good faith.
- Include your preapproval letter with your offer. This shows that not only are you serious about your interest in the home but that you already have gone through the approval process and are ready to move.
- Consider writing a letter to the seller or instructing me to include a bit about you and your family in my submission of your offer. Selling is an emotional process and sharing your story can sometimes improve your chances of being the successful buyer.
These are some of the things that you can do to increase your chances of winning your new home but I also have some tricks up my sleeve after 30+ years of full-time real estate experience. Let me leverage my knowledge, industry relationships and powerful negotiating skills for you in Calgary’s hot market! Join me on Facebook and Google today!