Are you frustrated with submitting multiple offers? Have you given up hope in buying a home in Hawaii? In today’s blog we’re going to talk about 5 ways to get your home offer accepted in 2021.
1. Work with a Real Estate Agent that is Hyper-Local
A hyper-local real estate agent understands the local market and has key insights into what is happening in the area. The agent will be your “eyes on the ground.” Their experience operating in this area is crucial in selling or buying a home. A pro-tip, a good local real estate agent can answer 90% of your questions off-the-cuff.
2. Offer to Pay the Asking Price or Above
We all know the real estate market is crazy. In this market, most offers being accepted are at the asking price or above. Speak with your agent to run the comparables in the neighborhood. Let’s take that a little bit further.
Here’s another pro-tip, pull up the sold listings and look at the list price and sold price. This will give you some insight as to what buyers are offering to get their offer accepted in that particular neighborhood.
3. Detective Work
Before writing up an offer, we need to find out what the seller is looking for so they will accept our offer. Of course, we know they want the highest offer but what else are they looking for? Are they looking for a fast closing, do they need to lease back the home after closing, are they looking for an appraisal clause, are they expecting a buyer to pay for the seller’s costs? Being flexible and doing a little detective work beforehand can make the difference between an offer being accepted or not.
4. Offer a Higher Down Payment
Offer a higher down payment when submitting an offer. This lets the seller know that you are a serious buyer and that you are financially stable. It also tells the seller that you have more invested in the house. Think about it, if you were a seller, wouldn’t you want to work with a buyer who put down 20% instead of someone willing to put 5% down?
5. Make Your Offer Stand Out
When you are writing your offer, you should make sure that your offer stands out from other offers. Put in the best terms possible and try to keep it clean. Be sure not to ask for personal property in the house, or anything else that may have sentimental value to the seller. The important thing is to remain focused on trying to buy the house.
Now if you want more information about buying or selling a home in Hawaii let us know!
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