Making The Offer - Strategies in a Hot Market
Visit http://www.realestateresource.org for more tips and information that can save you money. Summary of a hot market Data shows 45 days - what that really means Low inventory Days on Market Houses get listed on a Wednesday or Thursday - Why Showings Overlapping Pool of buyers Business cards What you need to have ready before you go to your showing Approval letter Earnest Money check Personal letter to the Seller Short story Honest Pros about the neighborhood Pros about the house How to structure the offer - Full Price Offer? Over asking? Closing Costs paid by seller? Contingencies? Moving the closing date? Rent back? Timing Let the listing agent know right away? Send the offer right away? Watch for the email blast to all participants Shopping the deal - time restrictions Why we list on Wednesdays and Thursdays Don't be discouraged if you lose out. In hot markets, you are likely to lose out 2-3 times before you win. Why? Urgency - Understanding the market - Offering at the top of your approval limit.