Tuesday, July 13, 2021 / by Brad Brethouwer
Here’s my advice for buyers who are looking to compete and win in this market.
In this crazy competitive seller’s market, there are three areas buyers are focusing on to help their offers stand out:
1. Price. A higher price is always going to make your offer jump ahead of someone else’s.
2. Limited or no inspections. Sellers don’t want you to ask for repairs unless they exceed a certain amount. This is one of the first things that agents check when offers are coming in. Traditional contingencies just don’t fly anymore.
3. Appraisal. Buyers are coming in with no appraisal contingencies. Some are even promising to pay tens of thousands over the appraised value if it comes in below the agreed-upon purchase price. There have been a lot more low appraisals lately because they just can’t keep up with how fast prices are rising. If there is no appraisal contingency, then the seller is assured that the price you agreed to is the price you’re going to pay.
These are the things that sellers are looking for in an offer today. If you have any questions for me, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.