Buyers are really scratching their heads these days.
“Really, WTF is up with the Boulder Market? How do we win a deal? What if we don’t have cash and are getting a loan?”
These are all valid questions. Here are 10 things to do to avoid a multiple offer blood bath:
1. HAVE YOUR FINANCING IN ORDER
Get pre-approved and know that there are plenty of cash offers that will beat you out.
2. PUT DOWN A HEFTY EARNEST MONEY AMOUNT
If you’re serious about the house, show your Sellers that you are serious.
3. MARK THE SPECIFIC PERFORMANCE BOX
Be willing to lose something, or at least suggest that you are.
**4. PAY YOUR REALTOR
Be willing to give the Seller a higher NET by paying your Buyer’s Agent, yourself.
5. HAVE A QUICK CLOSE
If you’re a cash buyer, close as quickly as possible, give the Sellers that ca$h.
6. RENT BACK FOR FREE
If you close quickly, offer to give rent back to the Sellers for $0 (with a deposit, of course).
7. BE RESPECTFUL WITH YOUR AGENT
Your agent is up against, sometimes, 25 other offers (I heard whispers of 46 offers the other day). Understand that we are hustling, for you.
8. STAY EMOTIONALLY DETACHED
“Let it gooooo! Let it GOOOO!”
9. NO CONTINGENCIES
Pay the difference if the appraisal comes in low.
Don’t have an appraisal objection.
Have an inspection but be prepared to make the improvements yourself.
Remove Property Insurance Objection.
10. Hang in there. Be strong. Be in communication with you realtor and get educated up front.