There aren’t as many homes available to purchase as usual this time of year, but Julie and Daniel Desrochers from Desrochers Realty Group and EXP Realty are here to help! They share advice on what you can do to make sure your offer stands out and when you should start looking for your next home too!
- Have your financing done and ready to go with a good, local reputable lender
- Lender should be available nights and weekends so you can have property specific pre-approval letters
- In multiple offers the sellers tend to look at more details in regard to the buyers financing
- One of the lenders we work with offers a guarantee to the seller that they will close the loan on time or pay $10k to the seller
- The more money you can put down on the loan the stronger you look to the seller
- Start your search earlier than you think or would have in past slower markets
- It may take longer to find a home with such low inventory
- If you need to buy a home by October, you may think it may be too early to start looking but it could take that long to find something
- It’s also good to get a clear understanding of what the market is like and what you can get for money so when you get closer to the time you are ready to purchase you are more informed and its easier to pull the trigger on writing an offe
Be set up on an accurate and instant search
- Make sure you are working with a good realtor that sets you up on a search that is coming directly from the MLS
- If something comes on the market make sure you are getting into that home right away
- Need to work with a realtor that is available and has a team of agents that is available to get you into those homes ASAP
- Homes are selling right now in sometimes one day
Present a quality, clean offer
- Often see offers that come in on our homes that we have listed that are missing a lot of simple things that could make them more attractive to the seller
- To compete in multiple offers, offers should be:
- Non contingent of the sale of your home
- Not requesting the seller to pay closing costs
- Inspection time line should be no longer than 10 days, and the quicker the better
- If the offer is financed, make sure there is a commitment to have underwriting done within 3 to 4 weeks.
- If the buyer has enough cash, consider committing to bridging the gap if there is an appraisal issue and the appraisal comes in low
- Unsure of how high over asking to go, use an escalation clause
- If looking in very specific areas or certain neighborhoods, consider sending out letters to the neighborhood.
- We do this often for clients that are looking to be in a pretty specific area.
- It’s a great way to potentially find something you love in the area you want to be in and can be a win-win for both parties cutting down on prep time and the stress of getting a home ready for someone that wants to sell.