Sellers Market... how to Compete

[Austin Steed]

Everyone knows that homes are selling in hours not months in today's market. So when your competing against 10 offers, 2 being cash and you are just a little FHA how do you make your offer more desirable? At my office, Keller Williams Classic Properties in Columbus, we've been discussing on how to make your self competitive when your not buying with cash in this hot sellers market. I'd like to share! And also if you guys have any other creative ideas I'd love to hear them as well.

1.) Bring an inspector with you on the initial showing. This way you can add in the offer you have done a preliminary inspection and you are willing to wave the remedy period or even better wave the inspection period all together. The last thing a seller wants to see any contingencies, if you can't get rid of finance get rid of inspection. 

2.) If your selling a property to acquire another there are some pretty interesting loans out there like Bridge loans. A Bridge loan takes away the contingency of the sale of your current property because the lender will  actually finance both places. The property your moving into and the property your selling. 

3.) Appraisals, if you know it's something you want you can add to the contract that you are willing to pay above appraised value. This way the sellers don't have to worry about their home appraising to the perfect amount giving you more leverage. 

I hope one of these helps and please feel free to add to the list!   

[Robert Ellis]

Just my own comment but i feel like it's better to spend money to find off market deals than compete on the MLS by waiving appraisals, inspections, remedies, etc. Buyers that are buying in today's market and waiving appraisals will lose a lot when they go to sell.