Winning Multiple Offers

Navigating multiple offers is tricky.

You want the house, but you don’t want to overpay. I created a guide from to help you determine how aggressive you want your offer to be. Together we craft an offer you feel comfortable with and hopefully gets you the house!

Most Aggressive

price : offering over asking price

contingencies : waiving appraisal and/or waiving inspection

closing date : ASAP/within 1-2 weeks

financing : cash

earnest money : 10%+

Moderately Aggressive

offer price : include an escalation clause

contingencies : offering to pay $X should appraisal fall short and/or doing a pass or fail inspection

closing date ; 3 weeks

financing : 30% or more down

earnest money : 5%

Typical Offer

offer price : at or under asking price

contingencies : standard appraisal contingency and standard inspection contingency

closing date : 30 days

financing : 5-10% down

earnest money : 1%

OTHER ITEMS TO STRENGTHEN YOUR OFFER

Buyer paying for title insurance policy.

Writing a letter to the seller.

Offer a few free days of seller-occupancy after closing for free or allow Seller to rent back post closing for longer at modest rate

Have your lender go farther than pre-approval. Get all documents to underwriting in advance.

Avoid non-conventional financing if possible. Generally sellers favor Conventional loans over FHA, VA, etc.

Use a local lender.

Appliances. Don’t ask for what isn’t offered.

Offer to make earnest money non-refundable after inspection/appraisal contingencies are released.

Do not ask for a 3rd party home warranty. You can purchase your own if needed for around $500-$600.

If you have questions, don’t hesitate to reach out at wendy@wendymonday.com. I am happy to help!