The spring market is here! People are ready and willing to move and with interest rates at a three-year low, I’ve scheduled showings in the morning, only to have the house go under contract before I can see it in the evening. Buyers are out en masse, which means multiple offers on homes! As a buyer, this means that YOU need a competitive offer to make yourself stand out!
Here are three simple tips.
1- Have a large amount of earnest money. Utah home buyers are notoriously cheap (compared to other states) and we typically offer very little by way of earnest money. Stand out by offering more money to show you’re serious about the home! (Remember, all earnest money is applied to your down payment, so as long as you buy the home, you’re losing nothing!)
2- Have your earnest money, or a portion of it, go hard earlier. Give yourself an edge by allowing your earnest money to go hard as soon as your own due diligence is done. You’ll still have all the time you need to make sure there are no issues with the house, but that shortened timeline will make you more appealing to the seller.
3- Be flexible with the seller. Give them time to move or rent back to you if they need to while searching for their next house. Most sellers are also looking for a new home to buy, so make sure to be flexible with them as they buy their next home and they’ll be more likely to accept your offer!
If you want more tips or advice, feel free to contact me!