Now that the busy summer buying season is here in the Lake Tahoe/Truckee area as well as in Plumas & Sierra Counties, there is a huge amount of activity for well priced homes and by huge amount, I mean fiercely competitive, with buyers grabbing for bank owned properties with increased knowledge, ready to strike. Buyers need to know that activity levels are strong and that they are not the only ones looking for the best deals out there.
Ideas To Get Your Offer Accepted
1) Price: Anticipate multiple offers and come in strong. Make sure your Realtor® analyzes all comparable properties and advises you on the value range for the subject property. If a given property has a value range of $600K-$650K and it is listed for $580K, do not be afraid to come in over asking price and strong within the value range.
2) Close Of Escrow Period: With bank owned assets, the bank wants to close escrow quickly. For cash buyers, reduce the close of escrow date to the fewest days possible for inspections and to close escrow. If you can make this happen in 10 days, then do it. Your offer will be much stronger than another similar offer with a 30 day escrow. But don’t despair if you are getting a loan; make the offer as strong as possible.
3) Costs: If you want your offer to be strong, then minimize the seller’s costs. Each time you ask to split a cost with the seller or ask the seller to pay for an item, you are flagging your offer as not that strong/desirable.