How Can I Make My Offer More Competitive - No Seller Concessions

How can I Make My Offer More Competitive? Writing an offer with a Seller Concession will drastically reduce how competitive an offer is. In a competitive situation, if you are wanting a seller concession like closing cost assistance, asking for it in the initial offer phase is most likely not the place to do it.

The most common seller concession is asking for assistance with closing costs. Closing cost assistance is amazing. Essentially it allows you to finance some of the closing costs. And with interest rates so low, it is a great deal for a buyer.

While they are amazing for a buyer, they do signal it as a weakness to a seller. This is why you do not want to ask for them in the initial offer phase. That is if you are looking to win the offer!

The best time to ask for closing cost assistance is after the home inspection. The way to do this is ask to inflate the price and for the seller to give you the difference back. The difference to the seller is very little on a net perspective. So, make sure to offer to make up that difference to the seller!

The risk to the seller is that the property may not appraise for that higher amount. Most likely the sellers will require language that would reduce the price if the property does not appraise for the new inflated price.

There are many tips on how to finesse a seller concession into an agreement in a competitive market. It’s important to know the risks of both strategies which is why you will want to talk to your Real Estate Agent in more detail as each situation is different.

The Buyer Power Checklist breaks down an offers buying power into three different categories. A buyer's offer will either be in the 'Low', 'Average' or 'High' Buying Power category.

https://www.boston2.com/blog/how-can-i-make-my-offer-more-competitive-the-buying-power-checklist/

Jeffrey Chubb | Chubb Homes Team | 617-480-2600 | Jeff@Boston2.com | www.Boston2.com | Brokered by eXp Realty