Buyers… Put some skin in the game when making an offer in a seller’s market!
A home is found…you love it! An offer needs to be written to win in a bidding war…. Advice to my buyers is always….put some skin in the game if you want to make it your new home!
- Be aggressive in pricing…review the sold data with your agent so you both are in agreement on the offer price…Study the comparable sales and offer the highest and best price. We have a seller’s market, not a stupid market! Look to see how much over the list price other comparable homes have sold for. Know your market…
- Buyers make sure to have a pre-approval letter from a good local lender showing you have a strong financial position to complete the settlement when you’re ready to submit an offer.
- The seller is going to consider the entire offer, not just the price. The attractiveness of any offer depends on the combination of the price and, even more important, the terms. Don’t ask the seller for non-realty items, pay the transfer fee for the Home Owners Association, don’t ask for a warranty and don’t ask extra coverage on the survey (in our TX contracts is an option). Keep the offer clean and simple!
- Be proactive…..find out from the listing agent what closing date the seller would like! A fast settlement date might be great if it the property is already empty but the seller might want more time if they need to find a new home. Let your agent ask that important question.
- In our area 1% earnest money deposit is normally 1%.make it higher.
- Option money is the key in our area. Make it higher than others normally would! If you terminate the contract during the option period you lose the option money but are still able to retain the earnest money. A higher option fee shows your putting some skin in the game and not likely to terminate the contract. The larger deposits always score points with the seller.
- Don’t make contingencies; no seller wants to see them.
- Buyers, is your agent well respected? Listing agents know which agents are easy to work with and don’t make mountains out of molehills. I pride myself on a good reputation and my deals close. An agents good reputation is always a plus when submitting an offer.
- Buyers will your offer have all the addendum’s needed? Will it be well written? My offers will have all the necessary addendum’s and all I’s are dotted and T’s crossed! First
impressions are important because it shows the agents professionalism and attention to detail and my offers always show my buyers have some skin in the game!
Buying a NW Austin home is a complex process and you want to work with a REALTOR® that understands the process and the ever changing dynamics of the Austin housing market. I have systems in place, references and am a good listener and communicator. It would be my pleasure to schedule time to see if we are a good match. Reach out to me at 512.346.1799 or email at dillard@reloaustin.com.
Don’t forget to visit my website: www.reloaustin.com
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       Dorie Dillard is the most frequently hired REALTOR® in the Canyon Creek Subdivision. “YOUR PERFECT PARTNER”
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