4 Tips For Writing Your Best Offer

Being well prepared will give you your best shot at being the winning offer

Today’s real estate market is rather hot and it has proven to be one favoring sellers. The pattern of activity has included rising home prices and limited inventory which is resulting in bidding wars. If you are thinking about buying a home these days then you will want to consider this advice on best positioning as you get close to submitting an offer on your next home. 

Establish Your Budget

During a competitive real estate landscape when bidding wars are occurring it is a good idea to know your maximum in case you find yourself in one. First it is important that you work with a lender and see just exactly how much you will be pre-approved for and spend. This way you will know what your price ceiling is that you can raise your offer amount to. 

Act Quick

The majority of homes for sale will be on the market for less than a month in today’s market. This means you have to be ready to go and view all homes that come on the market within your search criteria and act quickly if you decide to submit an offer to purchase. In the current market you don’t have the freedom of taking several days to contemplate placing an offer on a home.

Work With a Real Estate Professional

Having a professional agent’s guidance in a market like today’s is your key to success. Emotions can get the best of you so you will want to work with all of the facts and data that a local real estate professional can provide. This includes information on current market values, recent sales data such as list to sales price ratios and having a grasp on buyer demand. Preparing yourself with this knowledge will help you make the best offer with the least amount of buyer’s remorse. 

Identify The Seller’s Needs

When you craft your offer strategy it is wise to keep both your and the seller’s interest in mind. Working with an agent you can decide together to speak to things like dates and contingencies that may work best for both parties. You just don’t want to get yourself in a position where you may make too many sacrifices that may come back to bite you later on.