It’s time again for another real estate market report, and today I’m delighted to be joined by Adriana Spragg, our Team Leader at Rachael Richards Realty.
Adriana has negotiated hundreds of contracts, so she’s here today to share three creative strategies you can use as a buyer in this strong seller’s market to get your offer accepted:
1. Escalation clause. Putting this into your offer means that you’ll be willing to offer a certain amount above the highest offer received.
2. Appraisal gap. If you have the cash on hand to do so and a home appraisal comes in low, you can make up the gap between the appraisal value and the purchase price.
3. Earnest deposits. Once the appraisal and inspection contingencies have been met, your earnest deposit can go nonrefundable, effective immediately.
These are some great ideas for how to win in a competitive market like this. If you’ve been thinking about buying a home, don’t hesitate to reach out via phone or email. We’d love to help you out and answer any questions you may have.
