In today’s real estate market interest rates may have risen but Cervone Deegan + Associates can tell you that demand is still high due to the long-time problem of slim inventory. For some, this means that multiple bidding situations are still happening and for those with less buying power due to higher rates it may be that you will turn to other ways of making your offer competitive. Here are some ways that buyers have made their offers stronger without offering a higher purchase price for the home.
One of the interests of sellers these days is not only trying to get a good price and a few offers but often a quick sale. A home sale process can be a stressful one with lots at stake so making it go even faster can be an attractive benefit to your offer. Be sure you have your pre-approval completed, your attorney hired and ready, and a home inspector on deck immediately after your offer is accepted, and get that purchase contract signed in a few days rather than the week or week and a half that is typical.
Best Foot Forward With Shorter Window
Another great idea is to make sure you are putting your best foot forward with a strong offer, but consider giving the sellers a shorter window of time to accept it. Rather than the usual day or two try going for a window of four to six hours instead.
Target Homes With More Days on Market
Of course, you will want to see what hits the market in real-time, but if you keep missing out on homes you can consider looking at ones that are slightly above your price range but have been on the market for a longer time. If these are good candidates then you can consider writing an offer for less than asking but is still within your budget. You never know if the sellers may be eager enough to take it and get the home sold.
Work With Local Professionals
Relationships matter and the path to a successful purchase is to assemble the right team to work with. Work with a professional, experienced, and local agent team such as us. Working with someone who is well-known locally and has a report with the listing agent can really benefit a deal. Additionally, working with local lenders with strong track records for loans that close is also another reason why a seller may choose to accept your deal.