It’s time to write a winning offer contract that will win property in the Bay Area’s competitive real estate market.
Being first in terms and time matters. Instead of getting frustrated by losing offer after offer, I help focus on writing contracts instead of offers. We need to present an offer they can’t refuse. The hard truth is that many sellers have high expectations and are expecting all cash offers that closed 2 weeks ago!
So what’s a buyer to do? I will help you come as close to that as possible. This involves really understanding what the sellers want. To understand and investigate the bigger picture we can create an offer to match or close. Yes, many times it’s just the price the seller is after. But there are just as many times where the sellers care about who’s buying their home. Sometimes offer terms will trump price. There is no exact right or wrong way to make an offer but it’s important that we make our offer the best one possible.
STRONG:
Contingency-free
7-day close (or less)
All-cash
Over asking price
DECENT:
Non-contingency financing
Contingency-free
14-day close
Over asking price
OKAY:
If there are contingencies, keep them short:
Less than 72 hours for inspections
Less than 10 day for financing
25-day escrows
At asking price
WEAK:
Less than asking price
Long contingency periods
Contingent upon sale of buyer’s property
At appraisal contingency
A long escrow period (i.e., more than 30 days)
SWEETNERS:
Buyers pay commissions, transfer tax
Seller remains in possession after close of escrow (for free) (aka the rent-back)
Non-refundable deposits
