What To Offer In A Seller’s Market During The Season of Giving
One of the most challenging parts of entering a seller’s market is doing just that – putting an offer on a new place to call home! A seller’s market makes it that much tougher to secure that perfect property that checks off all the boxes of your family’s needs, but Mark Spain Real Estate is here to help you reach your real estate goals!
During this time of year, the real estate industry sees buyers that are serious about putting an offer down because there tends to be less inventory available as most people, especially those with children in school, have settled in by this time of year.
Therefore, it is crucial to have a plan in order to have the upper-hand on acquiring the home you have your sights set on. Mark Spain Real Estate would be grateful to serve you in the buying process as well as provide ways to present a competitive offer in a seller’s market.
What Buyers Can Give To Present a Competitive Offer In A Seller’s Market
Offer Above The Asking Price
Due to the circumstances that come with a seller’s market, it is unlikely that you will be successful if you make a low offer like you might otherwise have been in the summer. Your offer must be strong if you hope to come out on top of other buyers.
If you are passionate about a property, you should go above the asking price. Although this may sound overwhelming, making an offer about $2,000 – $3,000 over the asking price will get the seller’s attention and prove that you are serious about buying the home.
Keeping your offer within range of the home’s value, while still relatively above the asking price, will help position you as a potential buyer for the home you desire.
Make Sure Your Offer Is Clean And Complete
As a buyer in a seller’s market, you would have an advantage if you presented a clean and complete offer.
A clean offer is one that entails waiving all contingencies so that your bid is more competitive. We also recommend avoiding seller concessions, which are requests a buyer has outside of the offer price. When a seller is considering multiple offers, the ones that look most appealing are those that do not have these things attached to them.
As far as ensuring your offer is complete, all you need to do is simply look over your work and your reasoning. In a competitive market like this, even small mistakes can deter a seller from taking your offer.
Avoid Asking For Personal Property
While it may be refreshing to see your dream home decked out with furniture that aligns with your visions, it is in your best interest to just focus on the home’s seller accepting your offer for the property.
Your offer may closely compare to another buyer’s offer, so avoid asking the seller to include any furniture or decor that caught your eye. Requesting such items could weaken your offer and incline the seller to choose a simpler buyer.
Make Your Offer Stand Out
A seller’s market can be tricky to navigate. Buyers often feel pressured to place an offer on a home, and while it is important to act quickly, it is just as important to think logically on a decision with this much weight.
Do what you need to do to ensure that your offer stands out among the competing buyers. Hold yourself in front of the seller as someone who is serious and willing to take the steps to make your offer more desirable.
At Mark Spain Real Estate, your goals are our goals. With our expert programs and specialized agents, we can assure that your experience will be as smooth and stress-free as possible.
Ready to connect with us? We’d love to hear from you!