{"id":15956,"date":"2021-05-05T00:20:13","date_gmt":"2021-05-05T00:20:13","guid":{"rendered":"https:\/\/woodriverweekly.com\/?p=15956"},"modified":"2021-05-04T19:45:39","modified_gmt":"2021-05-04T19:45:39","slug":"writing-a-successful-offer-in-a-low-inventory-market","status":"publish","type":"post","link":"https:\/\/woodriverweekly.com\/index.php\/2021\/05\/05\/writing-a-successful-offer-in-a-low-inventory-market\/","title":{"rendered":"Writing a Successful Offer  in a Low Inventory Market"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">BY ANNA &amp; MICHELLE<\/span><\/p>\n<p class=\"p2\">With at least 40% less homes on the market currently than there were a year ago, serious buyers have probably experienced the disappointment of losing a home they wanted to buy from increased competition.\u00a0Today\u2019s buyers are looking for ways to improve their odds of being the best contract without having to use the purchase price as their only tool.<\/p>\n<p class=\"p4\"><span class=\"s1\">Buyers should reconsider, rethink, and re-evaluate their \u201cmust-have\u201d features and amenities.\u00a0It is probably unrealistic in a normal market to think you can have the perfect home at the price you want, but in today\u2019s market it is less possible.\u00a0List the things you must have and the things you would like to have and prioritize them.\u00a0Try to identify the critical from the convenient.<\/span><\/p>\n<p class=\"p4\"><span class=\"s1\">The next step is to put together your \u201chome\u201d team.\u00a0You are the captain of this process, but it is essential to have a strong first officer and that is your real estate agent.\u00a0This professional will oversee the process, advise you on current market conditions and normal procedures.\u00a0Your agent will even help you assemble the rest of the team, like mortgage officer, title, insurance, warranty, inspectors and can recommend service providers.<\/span><\/p>\n<p class=\"p4\"><span class=\"s1\">Your agent can advocate your cause personally to the listing agent by personally delivering the offer and expounding on your strong points to lobby your position.\u00a0Obviously, your agent will not share anything that you do not expressly give them permission to.<\/span><\/p>\n<p class=\"p4\"><span class=\"s1\">Even before you write the offer, your agent can inquire with the listing agent about any preferences of the seller not mentioned in the listing agreement as well as to use the proper contract forms and addendums.<\/span><\/p>\n<p class=\"p4\"><span class=\"s1\">The following list of suggestions are provided for your consideration realizing that some may not be appropriate for your individual financial situation or comfort level.<\/span><\/p>\n<ul>\n<li class=\"p5\"><span class=\"s1\"> Get pre-approved from a local lender and include documentation with offer to purchase.<\/span><\/li>\n<li class=\"p5\"><span class=\"s1\">Have lender phone and email listing agent to expound on pre-approval.<\/span><\/li>\n<li class=\"p5\"><span class=\"s1\">Increase the amount of earnest money.<\/span><\/li>\n<li class=\"p5\"><span class=\"s1\">Acknowledge flexibility on closing and occupancy dates.<\/span><\/li>\n<li class=\"p5\"><span class=\"s1\"> Eliminate unnecessary contingencies.<\/span><\/li>\n<li class=\"p5\"><span class=\"s1\"> Waive the appraisal and have proof of funds to meet the difference in the purchase price.<\/span><\/li>\n<li class=\"p5\"><span class=\"s1\">Avoid concessions like asking the seller to pay the buyer\u2019s closing costs or points.<\/span><\/li>\n<li class=\"p5\"><span class=\"s1\">Avoid including personal property to go with the sale unless specified in listing agreement.<\/span><\/li>\n<li class=\"p5\"><span class=\"s1\">Purchase \u201cas is\u201d with right of quick inspection to cancel contract if condition is unacceptable.<\/span><\/li>\n<li class=\"p5\"><span class=\"s1\">Shorten time frames on necessary contingencies.<\/span><\/li>\n<li class=\"p5\"><span class=\"s1\">Attach proof of funds for down payment or full purchase price if cash.<\/span><\/li>\n<li class=\"p5\"><span class=\"s1\">Arrange bridge financing to be able to pay cash.<\/span><\/li>\n<li class=\"p5\"><span class=\"s1\">Buyer should pay their own normal closing costs.<\/span><\/li>\n<li class=\"p5\"><span class=\"s1\">Write a personal note to the seller explaining why you like and want their home.\u00a0\u00a0Some listing agents are advising sellers to not accept them due to potential discrimination liability.\u00a0<\/span><\/li>\n<li class=\"p5\"><span class=\"s1\">Escalation clause &#8230; offer to pay $X,000 more than highest acceptable offer up to a limit.<\/span><\/li>\n<li class=\"p5\"><span class=\"s1\">If you physically sign the offer, use a contrasting color ink to add a personal touch.\u00a0\u00a0If using a digital contract, change the font and color to distinguish the signature.<\/span><\/li>\n<li class=\"p5\"><span class=\"s1\">Make your best offer first because they may not make a counteroffer.<\/span><\/li>\n<\/ul>\n<p class=\"p4\"><span class=\"s1\">When a new listing hits the market, it is commonplace for there to be a rush of interested buyers that result in multiple offers.\u00a0\u00a0It is prudent for you to research and consider which of these ideas you can implement before you find the home; it is much better to have more time to make these decisions, especially, if it involves a mortgage officer or an attorney.<\/span><\/p>\n<p class=\"p6\"><span class=\"s1\">Your real estate professional will be able to tell you if these suggestions are viable and may be able to offer additional recommendations.\u00a0\u00a0If you do not have an agent, contact me at or\u00a0LuxuryinSunValley@Windermere.com to discuss a plan to craft your offer in the most favorable <\/span><span class=\"s1\">way possible.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-13771 size-full\" src=\"https:\/\/woodriverweekly.com\/wp-content\/uploads\/2020\/07\/anna-matthieu-copy-1.png\" alt=\"\" width=\"630\" height=\"143\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BY ANNA &amp; MICHELLE With at least 40% less homes on the market currently than there were a year ago, serious buyers have probably experienced the disappointment of losing a home they wanted to buy from increased competition.\u00a0Today\u2019s buyers are looking for ways to improve their odds of being the best contract without having to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","_pvb_checkbox_block_on_post":false,"footnotes":""},"categories":[64,38],"tags":[],"class_list":["post-15956","post","type-post","status-publish","format-standard","has-post-thumbnail","category-better-homeowners-news","category-sponsored"],"_links":{"self":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts\/15956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/comments?post=15956"}],"version-history":[{"count":1,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts\/15956\/revisions"}],"predecessor-version":[{"id":15959,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts\/15956\/revisions\/15959"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/media\/15958"}],"wp:attachment":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/media?parent=15956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/categories?post=15956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/tags?post=15956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}