If you need assistance, please call 610-709-5147

Q: Which Tips Will Help Your Offer Stand Out?

Friday, August 21, 2020   /   by John Salkowski

Q: Which Tips Will Help Your Offer Stand Out?

Here are the two tips to remember to make your offer stand out.

Looking to buy a home? Search all homes here.
Looking to sell your home? Get a free home value report here. 

We’re in a very competitive market for buyers, so here are a couple of tips to remember if you want to make your offer stand out.

First, come in at or above asking price. You may also want to include a price escalation clause. This is especially important in a multiple-offer situation. An escalation clause specifies how high you’re willing to go on price to beat the other buyer(s) while also specifying the price you’re not willing to exceed. I recommend escalating your price to $500 or $1,000 above the next highest offer. 

"Your offer always looks better when the contingencies have fewer days attached to them."

Second, shorten your contingencies. There are several contingencies in an offer, but the mortgage and appraisal contingencies are the most important ones to try shortening. 

Keep in mind that your home inspection contingency allows you to back out of the deal for whatever reason, and you have 15 days to perform and negotiate any repairs during the home inspection contingency. Therefore, I recommend doing the mortgage and appraisal contingency during that time frame. Your offer always looks better when the contingencies have fewer days attached to them. The longer the contingencies, the weaker your offer. 

As always, if you have questions about this or any real estate topic, don’t hesitate to reach out to me. I’d love to speak with you.  

The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which {companyName} participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale. © 2022 BRIGHT, All Rights Reserved Information Deemed Reliable But Not Guaranteed. Data last updated: May 18, 2022 4 AM.
This site powered by CINC: www.cincpro.com