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Hi, this is Debbie with Taylor Brauer Realty Group. Thanks for reaching out - how may I help you?
 
10 Tips for Buying in a Hot Seller's Market
February 19, 2021

We will help you consider the specifics of your offer. What may be the most important to one seller may not be the same to another. At TBRG, we believe it is important to talk with listing agent before writing up an offer in order to discover what details are most important for the seller. With multiple offer situations, a buyer most likely will have one chance to make an offer and win the contract. If we can design and offer with the seller's needs in mind, then you, the buyer, be in a more competitive position against other buyers.

Aspects of the offer to purchase we will discuss with you include:

·   Sales price

·   Due Diligence Amount and date the Due Diligence Period will end.

·   Earnest Money Amount

·   Closing Date

·  Closing Attorney

·  Personal Property Requests

·  Home Warranty

·  Closing Costs

Additional Factors that may come into play include:

·         Buyer Possession of Home/Seller Possession of Home after close

·         Repairs

·         Appraisals

Now, to those 10 Tips!

1. Be prepared to adjust your expectations for finding the “perfect” house.

2. Keep an eye out for new listings. Be ready to set up a tour as quickly as possible.

3. Be ready to make a quick decision.

4. Have your proof of funds or pre-approval letter ready to submit with your offer.

o   A cash offer may give you the stronger position and gives you the possibility of a quicker close. Plus, no appraisals are necessary.

o   For loans, match your pre-approval letter to your sales price and date it the same day as your offer.

5. Keep your offer simple and clean. 

6. Make your best offer first. Odds are you will not have a chance to make a different offer.

7. Start with a strong sales price. 

8. A large due diligence is attractive to the seller because it demonstrates your commitment to the sale. Or, consider no due diligence period at all. Or, an as-is addendum.

9. If you need an appraisal for a loan, consider submitting an addendum that shows you, the buyer, will cover any financial gap either in writing or an addendum.

10. Be prepared and willing to accommodate the seller’s needs, such as the closing date or seller possession after closing. 

 

 

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