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Published November 7, 2021
How to Make Your Offer Stand Out | Maryland Real Estate Buyer Tips
With so few houses for sale today, and low interest rates driving buyer activity, bidding wars continue to be standard in today's market.
Luckily for our clients, we are a team of experts in these high-stress situations and in negotiating for our buyers.
?Here are a few of our favorite strategies when it comes to a multiple offer scenario:?
MAKE YOUR OFFER AS CLEAN AS POSSIBLE
A clean offer should have as few contingencies as possible (such as the sale of another home or other financial constraints). It should also be free of seller concessions, such as help with closing costs.
PUT DOWN A STRONG DEPOSIT
Your earnest money deposit is proof that you’re a good-faith buyer. This can typically range from 3-10% of the offer price.
OFFER YOUR “BEST AND HIGHEST”
Instead of an escalation clause, which can be risky for buyers and confusing for sellers, your agent should indicate that your offer is your “Best and Highest” - this signifies to the sellers that you have put serious consideration into your offer price, and your offer represents your very best offer. Sellers will appreciate a simple, easy to understand offer.
WE ALWAYS CALL THE LISTING AGENT
This is SO important. We always make sure to call the listing agent and get insight on what the sellers are looking for in an offer, whether it be a particular settlement date, a rentback, an appraisal waiver, or something else that they might be concerned about. Oftentimes, you can win a multiple offer situation just off of the terms of the contracts alone, without paying a higher price.?
If you're planning to make a move, let's connect to discuss Maryland’s current market trends, so you're ready to compete - and win!
