Ah yes, the sweet smell of springtime. 💐 With the weather finally breaking, it’s time to hit the park for some pick up games. Oh, you thought we meant basketball? Sorry, we’re just following Fido around while he does his business. 🐕💩
Springtime is also when homebuying picks back up after a long winter’s nap. 🥱 Thinking of moving the fam to some new digs this year? Skim through these hot tips on how to make the offer process a smooth move. 🙌
Here’s Five Fast Facts on cooking up a winning home offer:
- 🦆 Duck, Duck, House - The first step to a winning home offer is having all your ducks in a row before you hit “submit.” That usually means teaming up with a solid real estate agent and getting preapproved for a mortgage so you know your price range. In fast-moving markets, sellers are more likely to pick buyers who look financially ready to close.
- 🤓 Read Up - Another is doing your homework on the market and the seller. A good real estate agent can help buyers understand how similar homes are priced and how quickly properties sell in the area. They can also figure out what the seller values most, whether that’s speed, certainty, or a higher price, and shape the offer around it.
- 💫 Razzle Dazzle - Sometimes a winning home offer needs a little extra sparkle. One common move is raising your earnest money deposit, the upfront payment that signals you’re serious about the purchase. It’s typically 1% to 3% of the home’s price, but in competitive markets buyers may boost it to 5% or higher to grab the seller’s attention.
- 💰 A Lil’ Extra - Another way to strengthen your offer is by including a few concessions for the seller. That might mean covering certain fees (like agent commissions or legal costs) or agreeing to buy the home as-is. Just make sure anything you offer still fits comfortably within your budget.
- ⏫ Going Up? - If you’re worried about getting outbid, an escalation clause might help. It automatically bumps your offer higher if another buyer beats your price, up to a maximum amount you choose. That can keep you in the running during a bidding war, though not every market allows this strategy.
🔥Bottom line: Hey, do you know what realtors are really good at? Giving you all the proper-tea! No seriously, make sure to ask them about the neighborhood gossip. Wondering if the current mortgage rates are in your favor? You’re in luck, we’ve got an article all about that. Head here to learn more!
Planning on selling your home soon?
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