Newport Beach Real Estate-Homes For Sale

7 Strategies To Make Your Offer Stand Out From The Competition

If you’re checking out Newport Beach homes for sale when the Newport Beach real estate market is hot, or if you’re up against some tough competition trying to offer on the same house, you’ve got to go that extra mile to beat out your competition.  Here are some tips to make your offer jump ahead of the rest:

1)  Don’t Waste Time – When you find the perfect home, the chances are great a multitude of other buyers are also interested.  If you want a seller to consider your offer first, you need to move quickly and be among the first few homebuyers to present an offer.

2)  Let Your Newport Beach Real Estate Agent Personally Present Your Offer – If the seller doesn’t object to this technique, this will give your agent a chance to show why your offer is the best.

3)  Make The Highest Offer – By making your offer higher than the rest, you’ll stand out ahead of the crowd.  Your offer can jump out ahead of the competition even by just being a few thousand dollars higher.

4)  Make It Personal – This technique involves drafting a letter telling the seller why their home is perfect for you and how you’ll continue caring for it after the sale.  Be specific in the letter and reference specific features of the home you’ll continue to care for.  For example, if the seller takes a lot of pride in their prize garden, mention how you’ll continue to maintain it just like the seller.  Your agent may dismiss this strategy, but it could make the difference between your offer being accepted over another one.

5)  Limit Your Contingencies – While it’s normal to have standard loan contingencies and inspections, be careful not to overdo it.  If the home market is hot, some buyers will even be willing to pass up inspections just to get their hands on a home.  While this isn’t advisable due to the risk of hidden defects, be prudent when it comes to the number of contingencies you submit.

6)  Do Your Loan Pre-Approval Early – Many homebuyers are ahead of the game by getting their pre-approval before searching for a home.  If you don’t have a pre-approval letter ready when you make an offer, a seller won’t give your offer serious consideration because you may not be able to satisfy the loan contingency.

7)  Offer The Best Terms – If you’re searching Newport Beach real estate-homes for sale in a hot market, you can make your offer stand out by offering all cash and removing the loan contingency.  Consider the option of funding your purchase with your down payment and money borrowed from family or friends.   After purchasing the house, you can qualify for financing and repay the money you borrowed.

If you’re looking for Newport Beach Realtors-real estate agents to search for Newport Beach real estate-homes for sale, give me a call today!