04/06/2021
You’re a Buyer in a Seller’s World… How do you stand out?
Right now the housing market is HOT! Especially in the Phoenix area, Seller’s have the upper hand though, and it’s a feeding frenzy on any home that buyer’s can get their hands on right now.
I wanted to offer some Do’s and Don’ts in a Seller’s Market that I’ve been learning through eXp and how a buyer can stand out among the multiple offers sellers are seeing!
DO: Make offers on homes even if you see the home is ALREADY under contract.
- Right now sellers are taking multiple offers on homes and backups to their backups. This is because people fall out of escrow all the time, or at least more times than you think. Buyers can fall out of escrow for silly reasons like running up their credit card expenses before the close of escrow and their final credit check with their lender, or as big as quitting their job. But in the case that something like that happens with your dream home that’s already under contract, being an attractive backup offer for a seller could mean that you end up getting the home you’ve been praying for!
DON’T: Waive your appraisal contingency outright!
- Because Seller’s have the upper hand in this market that can mean that you have to bend over backwards to please them and make your offer attractive. So what some people suggest in this market is to waive your appraisal contingency completely. DON’T DO IT!!! Waiving this appraisal contingency if you’re financing your purchase with a mortgage could mean that if your home appraisal comes back lower than the overpriced offer you’ve made on a home, that you’re on the hook for the extra $5K, $10K, or sometimes even $50K difference between what the home appraised for and what you decided to offer. Instead, I can walk you through some options on how to make your offer more attractive without completely losing your entire life savings!
DO: Call me!
- Whether your a seller fielding multiple offers, or a buyer looking to put in multiple offers - I can help! Let me take the guesswork out of the entire home buying process and simplify your options. Especially if you’re a buyer in a seller’s market, you don’t want to be left in the cold with no home and thousands of dollars out of pocket!
DM me the phrase: "Dream Home" and let's start talking about how we can find that perfect place for you and your family today!
