Ready, Aim, Buyer Bid War!

Since it’s a sellers market, not just in Green Bay, WI, but all over the United States, here’s some strategies that just might increase your odds for an offer acceptance.

Bring on the home seller’s waterworks

As in, tug on the home sellers heart strings. This will not work with all sellers, mind you. But it will do wonders on the ones where it will work. Real life example: I had buyers that were in love with a home. It just so happened to be the home Mrs Buyer grew up in. I had a good conversation with the seller’s agent and amid the 4 other offers that was submitted ours was picked. It was NOT the highest. It was close though. Close enough that the seller wanted to give his home back to it’s “rightful owners.” Sweet, right? How do you know if this is even worth a shot? Ask your buyer’s agent. 

Write a clean offer

There are so many contingencies a home buyer can put into an offer. So when we say clean, we mean as little contingencies as possible. A few contingencies that you could check on BEFORE you submit an offer are home insurance qualification, potential flood plain insurance, a survey on the land… you get the picture. Talk with your buyer’s agent about what all these contingencies entail and then decide if you can live without them. 

Tighten up timelines

Show the seller that you’re serious by being on top of everything. You’re quick to pay the earnest money, you’re quick to get your home inspection taken care of. You’re also submitting your pre-approval letter with your offer. You’re ready to close as soon as lending allows. And if you aren’t using traditional financing, you’re ready to close as soon as the seller is.

Purchase price escalation clause

Increase your purchase price but only if other buyers have out bid you.  I have written offers with this clause and have been successful. This clause is not for everyone. Consult with your buyer’s agent about this strategy.