Do they want to move quickly or slowly - Do they need time to find a home of choice. Some buyers let the seller stay in the house for an extra month or two - rent free - after settlement to give them enough time to find a home of choice.
Assuming that you do not have the good fortune to be able to pay cash for your purchase - get your financing in order in advance of your offer. Use a good reliable lender - preferably one that the listing agent knows. Do not go for a loan that is problematic or might involve conditions which would impact the seller - like a VA loan. Put down 20% if at all possible.
In short, put yourself in the seller's position and try to find out as much as possible about the seller - then craft your offer to meet the seller's wants, needs, and wishes! Good luck - let me know how it turns out!
- Remove as much emotion from the purchase as possible.
- Make an all cash offer if you have cash available.
- Make a larger earnest money deposit. If your closing costs are going to run you $5000, then consider a $5000 earnest money deposit.
- Increase your offer price. A property here in DC was recently listed for $239k and sold for all cash for $325k.
- Remove contingencies in your contract such as appraisal contingency or appraisal contingency but be careful as these are meant to protect you.
That's just a few ideas. I have many others so feel free to contact me if you need any further assistance.
Tony Taylor "DC Real Estate Guy"
More money in the offer is NOT always the best way to go.
A cash transaction usually looks good to a seller. I have had sellers that don't want to worry about Lenders and how strict they can be.
Work with your agent about contingencies and time frame the Lender needs to close. This is where an agent can use their expertise to minimize contingencies and time to settlement.
I hope this helps! Good Luck!
Keller Williams Realty - Leesburg, VA
Remove or avoid the obstacles to the seller succeeding.
For each seller, the wants are different.
Too often, they are all treated the same.
Just like there is no Gaurantee, there also is no ensure when bidding on a home.
That's why the outcome is more predictable when experience is on your side.
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
Many people assume the key to success when involved in a bidding war hinges on the largest amount offered....make no mistake, this is very important but there are other ways of "sweetening the pot" without throwing more money at the transaction. Here are several things to consider:
1. Cash deal....sellers will often consider taking less when a cash transaction is involved
2. Quick Closing....truly motivated sellers often appreciate the opportunity for a quick exit
3. Minimal addenda....special considerations scare sellers. Don't go there!
4. Minimize your repair limit....have a thorough inspection and make sure you have wording that allows you to exit the agreement without penalty should repairs exceed a specified limit.
Hope someone finds this information helpful.