Are you being outbid in a buyer-saturated market?

Asked by Diane Gross, Irvine, CA Fri Mar 29, 2013

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Thierry Abel’s answer
Thierry Abel, Mortgage Broker Or Lender, Corte Madera, CA
Fri Mar 29, 2013

This is a crazy market indeed.

In order to ease our borrowers' frustration of making multiple offers and not getting them accepted, my company has recently rolled out a solution that has been providing great resultst...We call it "Keys on Time Guarantee".

This program guarantees to close the transaction on time, or the borrower gets $795 refunded to them. (we have never had to pay that money out so far)! We are the 27th largest non-depository Mortgage Bank in the United States, so we are closing our fair share of transactions.

We are closing these loans so quickly that we feel confident that we can help buyers write a contract that will stand out from the others; from reduced escrow days to the one of a kind "Keys on Time" Certificate that we provide to submit with the offer, and stand out from the crowd of offers.

Contact me if you want to learn more?

1 vote
Rochelle Cha…, Agent, Mission Viejo, CA
Sat Mar 30, 2013
Yes it happens to some of the buyers that I represent. Bumber!
0 votes
Thanks for replying Rochelle. What's your strategy to overcome this issue?
Flag Mon Apr 1, 2013
Michael Cheng, Agent, San Jose, CA
Fri Mar 29, 2013
With 30-50 offers on a listing being pretty common place, the vast majority of buyers and agents are being outbid.
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0 votes
Thierry Abel, Mortgage Broker Or Lender, Corte Madera, CA
Fri Mar 29, 2013
Escrow offices are indeed busier and it is now taking longer to get Title Reports ...(which you need whether you are financing the purchase or paying cash).....So to all the listing agents out there ..You can get more money for your properties on a Financed transaction and close only a few days later that you would have done on a All Cash transaction....(at least with we are currently averaging 16 days on pre-approved loans)
0 votes
John Souerbry, Agent, Fairfield, CA
Fri Mar 29, 2013
Geez, SOMEBODY is getting their offer accepted, escrow offices are busy
0 votes
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