Navigating multiple offers is tricky.
You want the house, but you don’t want to overpay. I created a guide from to help you determine how aggressive you want your offer to be. Together we craft an offer you feel comfortable with and hopefully gets you the house!
price : offering over asking price
contingencies : waiving appraisal and/or waiving inspection
closing date : ASAP/within 1-2 weeks
financing : cash
earnest money : 10%+
offer price : include an escalation clause
contingencies : offering to pay $X should appraisal fall short and/or doing a pass or fail inspection
closing date ; 3 weeks
financing : 30% or more down
earnest money : 5%
offer price : at or under asking price
contingencies : standard appraisal contingency and standard inspection contingency
closing date : 30 days
financing : 5-10% down
earnest money : 1%
OTHER ITEMS TO STRENGTHEN YOUR OFFER
Buyer paying for title insurance policy.
Writing a letter to the seller.
Offer a few free days of seller-occupancy after closing for free or allow Seller to rent back post closing for longer at modest rate
Have your lender go farther than pre-approval. Get all documents to underwriting in advance.
Avoid non-conventional financing if possible. Generally sellers favor Conventional loans over FHA, VA, etc.
Use a local lender.
Appliances. Don’t ask for what isn’t offered.
Offer to make earnest money non-refundable after inspection/appraisal contingencies are released.
Do not ask for a 3rd party home warranty. You can purchase your own if needed for around $500-$600.
If you have questions, don’t hesitate to reach out at firstname.lastname@example.org. I am happy to help!