Concerned that you could be in a bidding war? Use these strategies to increase your odds of getting your offer accepted.
Encourage your agent to reach out to the listing agent to find out what the seller is looking for, such as a quick close, an above asking-price offer or a waived contingency. This will help you and your agent craft a competitive offer.
Make a cash offer. If you’re not in a position to pay cash, get preapproved for a mortgage and have your preapproval letter in hand.
Pay attention to the listing agent’s request. Many times, they will have you submit your highest and best offer. Ask your agent for some strategies on handling this type of offer.
Consider waiving contingencies. If you are financing, check with your lender.
Figure out where you can be flexible. You’ll need to move quickly, so know your must-haves versus your nice-to-haves before you start your search.
Don’t get emotional. Trust your agent to walk you through each step in the buying process.
Be available. Respond to inquiries quickly and ask your Real Estate Agent to check in regularly with the listing agent to monitor the seller’s progress.
You’ve found your dream home, your offer is accepted and your closing date is 20 days away. We know your mind is on furnishing your house and buying supplies. And you are probably a little overwhelmed with all that goes into moving. Don’t jeopardize your chance at a successful closing by making one of these errors.
Here’s what NOT to do before closing on your new home:
Apply for new credit
Move money without a paper trail
Skip a payment or make a late payment for a bill
Spend your savings
Buy big-ticket items
Lenders will continue to check your credit, income and job stability up to just before closing to see if anything has changed that may impact you qualifying.
You may already have gathered all the paperwork you need for closing day, but there are a few other tasks to handle before you get to the closing table (Donwload PDF).
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