How to get that offer accepted!

Today more than ever a buyer and there agent have to be more creative and clever to get that offer accepted.  With the inventory of listings being so low buyers are experiencing multiple offer situations and bidding wars.
The days of " I'll give them 60 cents on the dollar are over".  As a buyer’s specialist working with buyers in this crazy market, I have picked up a few tricks that may help you get your offer accepted!

Financing:

• Have your finances in order; be sure you have your pre approval letter from your lender on hand.
•  If you are paying cash, have your proof of fund available. Better yet give this document to your agent so they have it in your file when you are ready to make that offer.

Time is of the essence:

• This one is critical on so many levels. Be available to look at properties on the fly, they sell fast.
• Be able to make a decision, if you "sleep on it" you will probably lose it or enter into a multiple offer situation.
•  Make sure your agent isn't technologically challenged; they must be connected in this computer age.
•  I know this sounds weird for you “Millennials" but bring your check book! If you want it, write it now and present it now, don't wait!


Negotiation :
• Have as little contingencies as possible such as... Financing, inspections, having to sell a house, closing date, personal property, closing costs. I know some of these contingencies are not negotiable but less is more. For example if you can pay cash vs. financing, pay cash. If you can avoid having an inspection done or do it while you’re viewing the property you can eliminate one less thing in your offer. Don't have a house to sell before you can buy the next one, in today's market there are not that many sellers are willing to take that risk.
• Be flexible with your closing date. Be careful what personal property you ask for, it's usually listed on the MLS sheet what the seller is willing to include in the sale.
• Closing costs are customary, it's okay to ask for them, just remember it’s all about the bottom line. If you need the extra cash for closing just add it to the sales price, so the seller nets the same dollar amount. 
• Here is the tip of the day, if you are in multiple offers and it comes down to price add a 5 at the end of your offer dollar amount for example ... The house is $100,000 there are offers on it, offer $100,500 or $100,555 or $100,505 well you get the idea. Remember you can and should offer more than the asking price just put a 5 in it! I can't count the times my buyer has been awarded the house by simply adding a 5 to their offer price, “it really works".


Agent:
• Today's market consists of foreclosures, Short sales, HUD homes and traditional sellers. Each seller has their own set of rules and regulations that the buyer or buyer’s agent must follow to letter, if not the offer can be rejected or not even summited to the seller. It is crucial you pick the right agent to represent you! Depending on the type of purchase you are making the seasoned agent knows what signs, code words, motivations the sellers may have. I know it sounds crazy, but some buyers aren't even eligible to purchase certain properties listed for sale.

Good news!

It's a great time to be a buyer, with interest rates being as low as they have been in decades, buyers are getting more bang for their buck.
If you are so lucky to buy a home just remember home values are increasing buyers are getting instant equity, it is like "money in the bank"! I hope some of these tricks of the trade help you get your offer accepted and you get the home of your dreams.

Happy house hunting...