Are you actually going to find exactly what you want in Northern Virginia Real Estate for what you’ve got to offer?
The song might be right. “You work hard fo yo money, so hard fo yo money… ” So, you better get what you want, right? Well, the answer is… there is no right answer. I hate to be vague, but if I had that crystal ball, I’d be able to work some crazy-magic that other agents aren’t able to work, and that just wouldn’t be fair, would it. The answer is, the market dictates what the price should be on a home, and it just so happens that every once in a while, there are a bunch of people all looking at homes in the very same price bracket. This means that the sellers in that particular price bracket are going to be sitting pretty when five buyers approach them with competing bids, now doesn’t it? What will make you stand out from the crowd and make your hard earned dollars go further and look more attractive to the seller in this competitive offer situation, you ask?
Here are three quick tips that will make your money that you work so hard for go a little bit further when you are competing for that perfect place:
- Larger earnest money deposits. Show the seller you’re serious with a larger EMD to be held by the title company. Don’t go overboard, but the typical 1% EMD might just show that you want the place, 2% or more will show your true good faith.
- A shorter financing contingency. Check with your lender and see if they can get your financing approved in 14 days instead of the standard 21 days. Doing this will shorten your closing time.
- Have your down payment locked and loaded. Have a solid down payment? Show it off! Let the seller know that you are a solid purchaser and that you already have a really good down payment to apply.
I have some other tricks up my sleeve, of course, but these are some great ways to show off that you are the one that the seller should pick. If you have been looking for a place, and are running into the multiple offer situation and are getting frustrated with it, I totally know that situation, and frustration behind it! Believe me, I want you to find the perfect home just as much as you want to be living in it, but sometimes a little game of strategy weaved into your smart planning with financing will put your hard work into achieving the perfect place when it comes time to getting into a multiple offer situation in Northern Virginia Real Estate.