5 Tips for Making Your Best Offer on a Home
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5 Tips for Making Your Best Offer on a Home

5 Tips for Making Your Best Offer on a Home | MyKCM

As a buyer in a sellers’ market, sometimes it can feel like you’re stuck between a rock and a hard place. When you’re ready to make an offer on a home, remember these five easy tips to help you rise above the competition.

1. Know Your Budget

Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it:

“This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.”

Showing sellers you’re serious can give you a competitive edge, and it helps you act quickly when you’ve found your perfect home.

2. Be Ready To Move Fast

Homes are selling quickly in today’s competitive housing market. According to the Existing Home Sales Report from the National Association of Realtors (NAR):

“Eighty-three percent of homes sold in November 2021 were on the market for less than a month.”

When houses are selling this fast, staying on top of the market and moving quickly are key. Your agent can help you put together and submit your best offer as soon as you find the home you want to buy.

3. Lean on a Real Estate Professional

No matter what the housing market looks like, rely on a trusted real estate advisor. As Freddie Mac also notes:

“The success of your homebuying journey largely depends on the company you keep. . . . Be sure to select experienced, trusted professionals who will help you make informed decisions and avoid any pitfalls.”

Agents are experts in the local real estate market. They have insight into what’s worked for other buyers in your area and what sellers may be looking for in an offer. It may seem simple, but catering to what a seller needs can help your offer stand out.

4. Make a Strong, but Fair Offer

According to the latest Realtors Confidence Index from NAR, 40% of offers today are above the list price. In such a competitive market, emotions and prices can run high. Having an agent to help you submit a strong, yet fair offer is critical in these situations. Your agent can help you understand the market value of the home and recent sales trends in the area.

5. Be a Flexible Negotiator

When putting together an offer, your trusted real estate advisor will help you consider which levers you can pull, including contract contingencies (conditions you set that the seller must meet for the purchase to be finalized). Of course, there are certain contingencies you don’t want to give up. Freddie Mac explains:

“Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”

Bottom Line

Today’s competitive landscape makes it more important than ever to make a strong offer on a home. Let’s connect to make sure you rise to the top along the way.

Posted by Jaclyn Lee on
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Park City Board of Realtors Logo The multiple listing information is provided by Park City Board of Realtors® from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2024 Park City Board of Realtors®, All Rights Reserved. Access to the multiple listing information through this website is made available by BHHS Utah as a member of the Park City Board of Realtors® multiple listing service. No other entity, including a brokerage firm or any franchisor, may be listed in place of the specific Listing Broker on the foregoing notice. Terms of Use

Listing information last updated on March 28th, 2024 at 2:43pm MDT.

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Information deemed reliable but not guaranteed accurate. Buyer to verify all information.

The multiple listing information is provided by Wasatch Front Regional Multiple Listing Service, Inc. from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2024 Wasatch Front Regional Multiple Listing Service, Inc., All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.


Data is deemed reliable but is not guaranteed accurate by the Washington County Board of REALTORS®.
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