Here are some tips on how to put in a competitive offer on a home:
1. Get pre-approved for a mortgage. This will show the seller that you are serious about buying the home and that you have the financial means to do so.
2. Make an offer that is close to the asking price. In a competitive market, sellers are more likely to accept an offer that is close to their asking price.
3. Waive contingencies. Contingencies are conditions that must be met before the sale of the home can be finalized. For example, you may have a contingency that the home must appraise for at least the purchase price. Waiving contingencies can make your offer more attractive to the seller, but it also means that you are taking on more risk.
4. Include an escalation clause. An escalation clause allows you to automatically increase your offer if another buyer makes a higher offer. This can help you beat out other buyers who are also interested in the home.
5. Be prepared to act quickly. In a competitive market, homes can sell quickly. Be prepared to make an offer as soon as you find a home that you want to buy.
Here are some additional tips that may help you put in a competitive offer:
1. Hire a real estate agent who knows the market. A good real estate agent can help you find homes that are priced competitively and that are in good condition. They can also help you negotiate the best possible price for the home.
2. Be prepared to compromise. In a competitive market, you may not be able to get everything you want in a home. Be prepared to compromise on things like the price, the location, or the features of the home.
3. Don’t give up. If your first offer is rejected, don’t give up. Keep looking for homes and keep submitting offers. Eventually, you will find a home that you love and that you can afford.
Remember Step 1 and reach out to us today. Happy house hunting!!