Making The Offer - Strategies in a Hot Market

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Summary of a hot market

Data shows 45 days - what that really means

Low inventory

Days on Market

Houses get listed on a Wednesday or Thursday - Why

Showings

Overlapping

Pool of buyers

Business cards

What you need to have ready before you go to your showing

Approval letter

Earnest Money check

Personal letter to the Seller

Short story

Honest

Pros about the neighborhood

Pros about the house

How to structure the offer -

Full Price Offer?

Over asking?

Closing Costs paid by seller?

Contingencies?

Moving the closing date?

Rent back?

Timing

Let the listing agent know right away?

Send the offer right away?

Watch for the email blast to all participants

 

Shopping the deal - time restrictions

Why we list on Wednesdays and Thursdays

 

Don't be discouraged if you lose out.  In hot markets, you are likely to lose out 2-3 times before you win.

Why?  Urgency - Understanding the market - Offering at the top of your approval limit.