There are a variety of opportunities in the Greater Phoenix real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.
If you are a buyer out there in the Phoenix market, how do you make a competitive offer? We hope to answer that question with today's topic: How to gain a competitive edge as a buyer.
The first thing you should do is try to figure out the seller's motivation. Do they want to sell because they need a quick close? Are they moving out of state? You are likely to get the best deal if you can match the seller's motivation.
The next thing to look at is how long a property has been on the market. If it's only been there a few days, you will have to be a little more competitive with your offer. If the property has been on the market for a longer period, the seller may be more inclined to take a discount on the offer.
Typically, once you come to contract, how quick you close will dictate how much of a discount you get on the property. If you have cash or a lender that can close quickly, you may be able to get a little better price for taking the property off the seller's hands.
When you make the offer, make sure you don't have any contingencies and make sure it's the cleanest offer you can make. We can't tell you how many times we see offers come in where the buyer is asking the seller to pay for everything from closing costs and HOA fees, to appraisal reimbursements.
If you need help writing an offer or have any questions for us, lets us know by giving us a call or shooting us an email. We'd be happy to help out.
