1. Money – Show Them In Any Way You Can
If you offer over asking price, even a few thousand dollars can be the difference of getting the house you want.
Comps and advice from your real estate agent will be a good start but do not overpay – you are responsible for over appraised value and loan amount.
In the money category, increase earnest money so they know you are serious.
And last but not least, if you have the money or access to the money, all cash with quick closing.
2. Add an escalation clause
A lot of agents do not like this strategy, however, it is a play that can win you the home! An escalation clause states you are willing to pay X over the highest price. You can cap it and you can request to see proof of the highest offer before moving forward
3. Waive all contingencies
Sellers do not want to be nickel and dime to death. Contingencies allow a buyer to back out so cutting them out appeases the seller. You can still do an inspection – just know if you waive the contingency that the seller does not have to provide a remedy in pay or fix the problem.
4. Be flexible on timing.
Following the closing, they may want a few days or a month. Be open and accommodating.
These are 4 Strategies to Win a House in a Hot Market!