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Updated over 3 years ago on . Most recent reply

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Adams Jean Baptiste
  • Rental Property Investor
  • Brockton, Ma
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Help making strong offers

Adams Jean Baptiste
  • Rental Property Investor
  • Brockton, Ma
Posted

Hello 

I need help on making my offer strong and competitive with out being ridiculous.
I feel like I have tried many strategies how ever I am not getting my offers accepted.
I am using home possible conventional and my offers includes - $3K above the highest offer up to where the cash on cash is lower the 10%, higher initial deposit $5K and higher inspection repair contegencie (anything above 15k) and quick closing.

What are we doing to be competitive in our offers - I need to find a property in less then one month to be able to use the home possible program due to changes in my income.

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Marcus Auerbach
#5 Market Trends & Data Contributor
  • Investor and Real Estate Agent
  • Milwaukee - Mequon, WI
6,597
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Marcus Auerbach
#5 Market Trends & Data Contributor
  • Investor and Real Estate Agent
  • Milwaukee - Mequon, WI
Replied

Find a better agent. Any tips I can give you here are not going to get you what you need, because every deal (and every market) is so different.

You already know what sellers want: highest price, highest probability to close. You can't get around the financing contingency and that is usually not THE problem, as long as you are convnetional and not FHA.

15k inspection limit does not make much sense, might as well drop your inspection contingency. You (your agent) should be able to identify issues over a couple grand during the showing. Roof, windows, foundation, siding, driveway, mechanicals. 

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