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How To Compete in This Wacky Market
September 27, 2021 at 4:01pm | Julie Hayward
Here’s how we can help you compete against cash offers in this market.
How can financed buyers compete with cash offers in this nutty real estate market? Many homes are selling for well above asking price, and buyers are offering plenty of other incentives to sellers to get them to accept their offers. Unfortunately, most
people can’t compete with a cash offer because they have such a large advantage in the current market. However, we have strategies to help you compete with cash offers that may give you an edge.
Your strategy will be a bit different depending on whether you have a home to sell or not because of the home sale contingency. If you need to sell your current home before you buy the next one, there are a few ways to do so. For example, you can get
an offer from an iBuyer or investor on your current home so you can remove at least part of the home sale contingency when buying. You could also have an investor buy your next home for you, then rent it from them while you’re preparing your other
home for sale. The advantage of this is that the investor will likely be making a cash offer, so you’ll have the same advantage as other cash offer buyers.
"Your strategy will be a bit different depending on whether you have a home to sell or not."
We have 14 things we can do to strengthen your offer, such as:
Removing the appraisal contingency
Removing the inspection contingency
Not asking for anything extra from the seller (such as a home warranty or closing costs)
Have flexibility with the closing date
Offering a post-possession
These are all very powerful options in an extremely competitive market. I’d love to hear from you if you have any questions or want to strategize about your real estate plans. Simply call or email me. I look forward to hearing from you.