You finally find your dream home, but there is a problem- everyone else wants it!! Fighting multiple offers on a house you want can be a nightmare. Unless you play your cards right, this place can easily slip away from you. So what do you do?
House with wide front yard
Here are some tips on how you can stand out amidst multiple offers and increase the odds that you'll emerge on top
Offer more money
Of course, it's as simple as that. Money talks!! A lot of agents even suggest that you include an escalation clause showing you agree to offer more than the asked price(up to a limit, of course) if other bidders come into play. Other than that, it would also work in your favor if you increase the amount of money that you'll put into the escrow deposit. This will show the seller that you're serious about buying the property.
Write a letter
Apart from the basic agreement of sale paperwork, writing a letter explaining why you need to buy that home in Arlington can help you stand out from the other buyers. A letter can be especially useful in situations where the seller has some emotional connection to the property.
Keep your financing clean
If you can afford it, buying a property with cash is always attractive to sellers. That's because the sale process would be easier and there won't be any worry that a loan is rejected at the last meaning. Having said that, cash is certainly not an option for every buyer. If you have to use a mortgage, make sure that you provide a pre-approval to show the seller that your finances have already been vetted by a lender.
Buy the home 'as is'
When you agree to buy the home "as is", it simply means that you are agreeing to purchase the home in Arlington in its current condition and release the sellers from the responsibility of making any repairs. This option is attractive to the seller because it will increase their net profit. However, this does not mean that you forgo an inspection. You'd still be entitled to conduct any inspection you wish, and walk away if there are some major problems with the house
Have your agent make a call
The job of your real estate agent is to ensure that your interests are communicated to the sellers throughout the negotiation process.
Charity W. is a professional and skilled writer with a diploma in Mass Communication. When she is not glued to her computer screen, Charity spends her time reading, traveling, and watching movies. She is an expert on Arlington Virginia and keeps current with local events and occurrences.
