Best Tips For Making A Home Offer In A Competitive Market

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Best Tips For Making A Home Offer In A Competitive Market

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Home Offer Tips

With the real estate market being hot, there is low inventory, and many people are accepting offers way over the asking price. It can be intimidating to be house hunting right now, but as long as you are prepared with a great strategy and are willing to make an offer in this competitive market, you will be the owner of a new home in no time.

Understand How A Home Offer Works

We live in a world where everything is evolving and becoming more efficient, and that does not exclude selling and buying property. However, if you are a first-time homeowner or haven’t made an offer on a home in a while, it is essential to do your research to create the most appealing offer. The best advice is to find a trustworthy and experienced agent that you are confident will help educate you, get you the best offer, and make the process smoother.

If you make an offer but decide you want to revoke it, you can only do so depending on where you are at in the process. You can only take your offer back if you have not already gotten it accepted since it is a legally binding contract. You can do this by sending in a Notice of Withdrawal of Offer to the seller.

how to make a winning home offer

How To Make An Appealing Home Offer

Searching for your dream house and getting your offer accepted can be hard to do in this competitive market. However, it is possible to make yourself an easy candidate to sell a home to. Here are the best tips for creating an attractive offer that they cannot say no to.

1) Get Pre-Approved

Selling your home can be very stressful, which is why the best strategy is to make that process for the seller a lot more efficient. You can do this by making sure you have a mortgage pre-approval. This is more attractive to sellers because they can be confident upfront that you can finance the home and have creditworthiness.

home offer tips

2) Come Up With A Fair Price

It is important to realize that many sellers accept offers over the listing price, so you will want to make sure your offer is competitive with the current market conditions. With the high demand for housing, there may be a lot of competition for the home you are going for, which is why you will want to make sure you don’t lowball your offer. The seller could quickly move on to the next bid if you do. Work with your agent to determine the price you both deem worthy of the house.

3) Be Flexible With Your Offer

Being flexible to work around the seller’s schedule of moving or being willing to offer a larger down payment can be a great strategy. In addition, they may be more inclined to choose your offer if you are eager to help them out as well.

If you need assistance buying or selling a home in Charlotte’s booming real estate market, be sure to reach out to our team of realtors for professional help!

Shelly Henderson
Shelly Henderson
Shelly calls herself a “Charlottean” because her family has been there since her elementary school days. She serves as Henderson Properties’ co-founder, along with her husband Phil, managing the day-to-day operations, social media branding and leadership development. Her different life experiences, both positive and challenging, earned the title to her first book Starting From Scratch. Shelly has a servant’s heart and leads her company with purpose and passion. She is mom to two sons who continue as young adults to make her heart swell.