Preparing The Home Buying Offer In A Sellers Market

Dated: 09/08/2016

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Time is of the essence. Multiple offers happen with more regularity in a sellers'

market than a buyer's market. That's because by its very nature a seller's market is

defined in part by low inventory and lots of home buyers. A beautiful home that is

priced well can attract more than one offer. Remember, you might not be the only buyer.

Price.    Do not offer less than list price. Realize you may may need to offer more than the amount the seller is asking.

Deposit.    A larger earnest money deposit might look very attractive to a seller. Ask your agent for advice on the deposit, then consider

doubling or tripling that amount. Your going to pay it anyway at the closing.

Don't request favors.     This is not the time to ask the seller to give you the refrigerator,washer and dryer, part with the fixtures or paint the front door.

Submit Preapproval and Proof of funds Documentation.     If yourpreapproval letter is from an out of state broker or lender, or more than 3 months old, get a local and updated preapproval letter. Match your preapproval letter to your sales price and date on the offer.


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Greg Noyes

Greg Noyes is here to provide you with all the resources and information you need to buy or sell real estate. I work with buyers or sellers from Cape Cod Bay to Boston and all the towns in between. ....

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