How many times have you and your clients lost out in bidding wars to lower priced offers?
Your clients usually lose when competing offers come in with all cash, no contingencies, or more speed.
Redfin actually did an extensive survey recently to assess ALL the criteria that make offers more likely to be accepted and I’ve noted them below!!
- Nothing beats all cash. Here’s the thing… a lot of “all cash” offers turn out to be financing. They use what’s called a hard money lender who can close fast. Consider offering a 14 day close with a lender that can meet your needs. Need one? Text Ron or Andy at Peoples Mortgage at 858-634-9950 firstname.lastname@example.org — Get Qualified in 5 Minutes Here!https://thewiltgroup.loans.peoplesmortgage.com/
- Waived Financing Contingency. Oh shit. Don’t panic! This doesn’t mean you cannot cancel the transaction. It does mean that financing is not a part of your contingency, however, you still have inspections, appraisals, and disclosures to review. Don’t like any of them? You can still cancel without forfeiting your earnest money deposit.
- Personal Cover Letter. Since the market has recovered, most likely your seller is not a bank. They’re a normal human! This means they sometimes do care who buys the home. For example, a seller selling their childhood home receives two offers. Both have good terms and both will net the seller the same amount. However, one offer comes with a letter and a picture of their adorable family telling tales about how many great memories they’ll make in the home. Which one do you think the seller chooses? PS. Email or Text me for a sample letter at 619-550-7074 or Amara@AmaraBerg.com (Agents are welcome to request this too!)
- Pre-Inspection. Yea, they don’t care, let’s move on.
- Inspection. Buyers inspect regardless. Don’t bother waiving it, it won’t get your offer accepted over another, it’ll just result in you suing everyone when you win the home, move in, and realize the entire home from foundation to roof is shot. ———–PS. Any good realtor would not recommend skipping an inspection to any buyer unless they’re an investor!
I hope you enjoyed this blog and good luck getting those offers accepted!