Hey everyone, this is Shannon Mangin with Century 21 in Austin, Texas, we have so many buyers who are moving to Austin right now that it can be challenging as a buyer, we’re finding that most of our listings are getting multiple offers. So it’s important that you know how to compete and write the offer that’s going to win. So here’s four tips that you can do to strengthen your offer, aside from just raising your price.
So number one is shorten your timelines. That would include the time it takes to close the property, but also the time you’re asking to do inspections to get financing approval. The best way to shorten the timeline is to get pre approved for a loan, not pre qualified, but actually pre approved, it puts you about a week ahead of someone who has not done the pre approval process.
Number two, is that what I call having more skin in the game, so putting more money down and that benefits the seller in Texas buyers have to pay an option fee. It’s non refundable, and it’s a fee that’s paid directly to the seller for the time that they’re allowing you to do an inspection and negotiate repairs. So by raising your option fee and giving them more money, that’s non refundable, that can show them how serious you are because you’re gambling more of your money to win that property.
Number three is having great communication with the listing agent. So find out what’s important to the seller, maybe they need some time after closing to move out. So you could offer them a free lease back for a week, somebody to help them with their transition to their next home. So just communicate and find out what’s important to them and their offer.
Finally, the fourth tip is don’t ask for extras. If you’re competing against several other offers, do not ask the seller to clean the carpet or paint a room or leave you all the appliances. Just don’t ask for extras because another buyer may not have asked them to do anything. So keep your offer as short simple clean as possible. And that can help you win as well. Now every situation is different and not all properties go for above asking and multiple offers. There are still properties where you can negotiate and come down on price. So it’s super important to have an agent that knows the area well that knows each property well and could help you get the best price possible. And when you the home you love.
