Buying a home in a hot market (with rapidly increasing prices and relatively low inventory) may require you to pay above list price. Be prepared for a bidding war.
Instructions
1. Get prequalified for a home loan and provide a letter of prequalification with your offer.
2. Be prepared to pay more than the sellers are asking. In a hot market, there may be several people trying to buy the same home at the same time.
3. Make your offer stand out. Make the terms easier for the sellers to accept by not asking for much - or any - repair work.
4. Increase your deposit. A bigger deposit makes an offer appear more serious.
5. Forget the extras. Pay for home warranties yourself.
6. Write a cover letter explaining how much you like the home and how it is perfect for your family. It might sound corny, but offers are often accepted just because the sellers liked the particular buyers and their families.
7. Let the sellers know the escrow period is negotiable. If they need 60 days instead of 30, give it to them.
8. If the sellers need a couple of days to move out after close of escrow, let them have it - for free.
Tags: your offer
