Buyer Tips for a Seller’s Market

If you’re a buyer in our seller’s market, there are five tips you can utilize that will help you stay ahead of the game.

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When buyers compete in a seller's market, like the one we're in right now, there are a few tips they must remember to get the home they want. First, when presenting your offer, always offer strong due diligence terms and/or a large earnest money deposit. When a seller sees these two things, they’re more likely to consider your offer—more earnest money up front looks a lot better than additional earnest money down the road. Second, show that you’re qualified to buy. Many buyers make offers without a pre-qualification or pre-approval letter. Of course, in real estate, cash is king, so an all-cash offer will usually trump any offer that’s utilizing financing. Third, keep your offer lean and mean. By this, I mean the fewer deal points you have, the better. Don’t make an offer that asks for too much.

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The fewer deal points your offer has, the better.

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Fourth, have your agent communicate with the seller’s agent and ask them what the seller wants. For example, maybe they want a longer contract-to-close date or a post-closing occupancy period. Lastly, try offering to purchase the home as is. When you buy a home as is, you’re not negotiating back and forth with the seller over whatever repairs may need to be made that they may have to pay for. Applying these tips when presenting an offer in our market will put you on top of the game. As always, if you have any questions or you’re looking to buy or sell a home soon, feel free to give me a call. I’d love to help you.