10 Secrets to Winning (almost) Every Purchase Offer

10 Secrets to Winning (almost) Every Purchase Offer

Today’s competitive housing market can be very frustrating for buyers. You rush to a new listing as soon as you see a coming soon sign in the yard, just to find out that 10 other buyers already promised to submit a purchase offer.

When you submit your offer, you are either too late or too low.

After getting offers rejected multiple times, some buyers give up and consider renting an apartment.

Don’t give up. It’s not your fault – your agent just did not have a fail proof strategy to win in a competitive market.

I have a solution that will get you the home you want at a fair price.

Strategies for Winning Every Purchase Offer

Here are the 10 strategies I employ so my buyers come out on top.

Why do I know that they work? I use them with all of my buyers, and they are usually the winning bidder.

Out of 10 purchase offers I submitted for my clients in the past 30 days, we won 9. In each case the seller had at least 2 other offers to choose from. The only offer we lost was to a buyer who substantially overpaid for the property. That buyer offered $20,000 (10%) above asking price. I would never let my client overpay by that much.

Here are my buying strategies …

  1. I communicate with the listing agent even before we schedule a showing to find out what’s most important for the sellers, how many showings they had and how many purchase offers she expects, and if there’s a deadline.
  2. I prepare an accurate market analysis and share it with my client. Knowing that the listing is priced fairly allows us to decide, if we want to go above asking price.
  3. When we look at the property, I advise my client on the upgrades that were performed and whether the typical remedy items have been taken care of. If not, we estimate how much they would cost.
  4. Depending on the number of offers the the seller already received and the motivation of my client, we determine how much over asking price we can bid.
  5. Sometimes we use an escalation clause, which means we offer a certain amount above the highest bid.
  6. If it makes sense, we make an as-is offer. We wave remedy requests, however, we still can terminate the contract if the inspection fails.
  7. If my client can afford it, I recommend to wave the appraisal contingency. If the property would not appraise, the seller knows that my buyer will cover the difference.
  8. I always submit a complete contract package, including a strong pre-approval letter and proof of funds.
  9. My buyers often write a personal letter to the sellers, creating an emotional connection.
  10. Finally, I follow up with the listing agent as soon as the offer has been submitted and explain why our offer is superior to others they may have received.

Price is not always the most important consideration for winning a bidding war. We know that 50% of listings fall out of contract the first time around. The smart seller will prefer predictable financing, no contingencies, and a flexible possession date over the highest purchase offer.

Do you want to take advantage of my superior purchasing strategy and negotiation skills?

Call me TODAY at (614) 975-9650!

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About the Author

Susanne has helped more than 500 home buyers or sellers in the past 3 years. She is consistently ranked among the top 1% of all real estate agents in Central Ohio. Connect with her on Google+ or call or text her at (614) 975-9650.

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