How to Make Your Offer Stand Out in a Competitive Market - Hunter Gore

Why it Works

• Offering above asking price shows seriousness and willingness to go the extra mile.
• An increased earnest money deposit demonstrates financial strength and commitment.
• Waiving or limiting contingencies reduces the risk for the seller and makes the offer more attractive.
• A flexible closing date can align with the seller's specific needs or timeline.
• A personal letter creates a personal connection and makes the offer memorable.
• A shorter due diligence period expedites the process and shows motivation.
• Proof of funds or pre-approval strengthens the offer by showing financial preparedness.
• An escalation clause keeps the offer competitive without constant renegotiation.
• Paying some of the seller's closing costs is an attractive incentive.
• Being ready to act quickly ensures timely submission of the offer.

Tips

• Consult with your real estate agent to determine a reasonable but competitive offer amount.
• A higher deposit can reassure the seller without overextending your budget.
• Discuss options with your agent to find a balanced approach when waiving contingencies.
• Have your agent ask the seller’s agent about their preferred timeline and match your closing date accordingly.
• Keep the letter heartfelt but concise, avoiding any financial details.
• Work with your agent to arrange necessary inspections and appraisals as soon as possible.
• Attach your pre-approval letter and proof of funds to your offer, especially if you're making an all-cash offer.
• Include a cap on the escalation to avoid overpaying.
• Work with your agent to determine which closing costs you can cover without breaking your budget.
• Make sure your finances are in order and work closely with your real estate agent to monitor new listings.