What makes it even more fulfilling is that the asking price is below your Maximum Allowable Offer (MAO). You cannot believe your good fortune.
Except there is one problem.
You are not the only who is interested in the property. As it turns out, there are a dozen of other investors who want to purchase the property. In a bidding war like this you have to use unconventional offer strategies to win the real estate offer.
Today I share with a few tips to help you Get Your Offer Accepted!
1. Get Pre-approved and Use Cash offers
Make sure that you have cleared with the bank and the credit card company. Have a clean slate before planning to buy the property. For the stiff competition, use cash offers as they are more appealing than finance offers. Do not worry about financing contingencies, banks, and all that. If the seller wants to accept a real estate offer which has a higher likelihood of not falling through, he will take cash offers.
2. Find a Good Real Estate Agent
A good agent will give you all the advice that you need. With a great agent by your side, you are sure to acquire win the real estate offer. Giving offers above the asking price sounds crazy but it gives the best results in some situations. Most of the traditional buyers and real estate investors never think of it, same applies to regular home buyers.
Naturally, the reason that you have a lot of competition when purchasing the house in the first place is because the asking price is very low. If it were not so low, there wouldn’t be as many bidders as they are in the real estate offer.
3. Offer a Fast Closing
Each day a home stays on the market, the seller is losing money. Ordinarily the reason that the properly is listed for such a low price is because the seller is motivated and intends to unload it swiftly. You can take advantage of this need by offering a super-fast closing.
4. Cater to the needs of your seller
All sellers are not the same. Each has his or her own desires, motivation, and agenda. Some people are selling their own property meaning that they are less knowledgeable and more easily swayed. Maybe the seller has just undergone a divorce and is more eager to get rid of the property than anything. In a case like this, speed is much better than a high offer. To win their interest, you must show a level of professionalism and transparency.
For any questions do not hesitate to contact us.