5 Tips to Get Your Offer Accepted in Today's Real Estate Market

With extremely low inventory and more buyers than sellers these days, will your offer be accepted?  Should you even bother?  Absolutely!  It's not hopeless.  You never know what will happen.    Despite very vew listings coming on the market, homes are still being sold.   Interest rates are extremely low and people want to get settled.  It's been an unprecendented year.  

Following are some things to consider.

Tip # 1

Be financially prepared.  What that means is if you are planning to take a mortgage, get preapproved.  Don't start looking at houses until you're approved.  It makes no sense if we don't know what actual numbers we're working with, how much or how little you're approved for.  Most people will call and say, I have great credit.  That's wonderful, but the seller is not going to accept that as proof you can afford the house.  This is essential to buying a home.  Just "do it!"

If you're planning to pay cash, then you will need proof of funds to show you can cover the purchase.

Tip # 2

Work with a professional buyer's agent.  They're invaluable to you and you won't save any money without one. They will guide you, get you there and your offer submitted in a timely fashion to give you a better chance to get the home.   Listen to their advice.  They're on your side.

Know what you're looking for.  Check out the communities or buildings you're interested in.  Do they work for you?  If you have pets, are they pet friendly?   Are you looking for a top gated community or a waterfront condo?

Tip # 3

Remember, it's not always price.  Very often it's terms.  For example, closing dates.   Have your agent find out what dates will work for the seller.  They may need an extended closing, or they may want a quick closing.  Ask!   If it's an extra week or month, see where you may be able to stay for that period of time.  After all, you want the house.   

A seller may want to do a lease back.  They may want to close on their home and then lease it back from you for a month or so.  Why?  They may need the funds to do something to their new home before moving in.  

Inspections are important.  I don't think you should ever waive an inspection unless you're taking the house to the ground.  But, perhaps you can shorten the inspection period a few days.  

You never know what terms are important to the seller so it's imperative that you ask in a seller's market, which we're in right now.  

Terms.  Terms are important.  Ask!  You have nothing to lose and everything to gain.

Tip # 4

It doesn't matter if there are multiple offers.  You can only do what you can do.  Submit your best offer without putting yourself in jeopardy.   Don't ever put yourself at risk to buy a home.  You want it but it has to be right.  If it's not this one, it will be another one.  

Tip # 5

Be preapred to move quickly.  Whether it's to view a house in person or virtually.  Whether it's to submit an offer or do an inspection.  Do it quickly. Don't verthink it, just go.  In this market, chances are the house will be gone by the time you're done thinking it over.

Final Thoughts

Despite being a seller's market, conditions are right for a buyer to buy now.  Great interest rates and the need to feel settled are important in today's real estate market.  The key is to be preapred and somewhat flexible.  Can you do that?