Buyer Seller Investors Can Compete With Each Other In Washington, DC
By: Sell My House Fast
1. Make Your Best Offer Out of the Gate
Cash buyers are usually looking for a bargain, and they can use the ability to pay cash to negotiate the best possible offer. But if you're trying to compete with other cash buyers in market, your best bet is to make your best bid right up front in a competitive market with numerous offers.
2. Reduce or Jettison Contingencies
Also, by going easy on the contingencies, you can compete with other buyers as a market investor. Contingencies are provisions of the contract that allow you to withdraw your bid without penalty and for certain defined reasons, such as issues found during the inspection.
3. Be Flexible
By actually being versatile, you can also compete with other cash buyers. When it comes to requirements and the timetable, let the seller be in the driver's seat. For instance, sooner or later, you might let the seller set the closing date to better suit her schedule and needs.
4. Offer More Earnest Money
If you really want to perform, don't skimp on serious cash. Offering more earnest cash makes you a serious buyer, one who can climb above other less earnest cash buyers.
After the buying agreement is signed, the earnest cash usually goes into an escrow account. The seller is told by this earnest money that you're serious about buying the property and that you're not going to back out. And the more money you put down, the more appealing your bid would be.
5. Make an As-Is Offer
Cash buyers frequently buy as-is, but not always. So, if you make an offer as-is, you could just be able to compete with other consumers who don't.
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Need To Compete With Other Cash Buyers? Be Sure to Consult Your Agent
As a market investor looking to compete with other investors, maybe one of the best things you can do is to let your local real estate agent direct you. Your market will have comprehensive local market awareness and can assist in making competing offers. Send us a message today to find out how our agents can help you compete with those cash buyers!
Page Updated Last on: Feb 04, 2021