Bidding wars are common
There’s a limited number of homes for sale in Crafton PA today. So many buyers are looking to make a purchase before mortgage rates rise further. According to the latest report from the National Association of Realtors (NAR), homes are getting an average of 4.8 offers per sale.
The average buyer made two offers before getting their third offer accepted. It’s important to know what levers you can pull to help you beat the competition. Crafton PA Realtors – the Diane McConaghy Team at REMAX Select Realty – are your ultimate guide to presenting a strong offer. Here are a few things you could consider.
Offering over Asking Price
When you think of sweetening the deal for sellers on homes for sale in Crafton PA, the first thought you likely have is around the price of the home. More homes are selling for over asking price because there are more buyers than there are homes for sale in Crafton PA. Just make sure your offer is still within your budget and realistic for the market value in your area. This is where Crafton PA Realtors – the Diane McConaghy Team at REMAX Select Realty can help you through the process.
Being willing to pay more money than other buyers is one of the best ways to get your offer accepted. You may not have to increase it by a lot. This will depend on the area and other factors. Look to your Crafton PA Real Estate Agent for guidance.
Putting Down a Bigger Earnest Money Deposit
Consider putting down a larger deposit up front. An earnest money deposit is a check you write to go along with your offer. If your offer is accepted, this deposit is credited toward your home purchase.
A higher earnest money deposit may catch a seller’s attention in a hot housing market. It shows the seller you’re seriously interested in their house and have already set aside money that you’re ready to put toward the purchase. Talk to Crafton PA Realtors – the Diane McConaghy Team at REMAX Select Realty for guidance in your specific area.
Making a Higher Down Payment
Increase the down payment you’re going to make. The benefit of a higher down payment is you won’t have to finance as much. This helps the seller feel like there’s less risk of the deal or the financing falling through. If the other buyers put less down, it could be what helps your offer stand out from the crowd.
Non-Financial Options To Make a Strong Offer
Increasing the financial portions of the deal can help, but they’re not your only options.
The buyer’s terms and contingencies are also taken into account by a seller who is not just looking at price as a motivating factor. Talk to your Crafton PA Realtor about Mortgage pre-approval letters, appraisal requirements, and a flexible moving date.
When it’s time to make an offer, partner with a trusted Crafton PA Real Estate Agent – the Diane McConaghy Team at REMAX Select Realty. They have insight into what sellers for homes for sale in Crafton PA are looking for and can give you expert advice on what levers you may or may not want to pull when it’s time to write an offer.
Just remember, there are certain contingencies you don’t want to forego, like your home inspection. Ultimately, the options you have can vary state-to-state, so it’s best to lean on an your real estate agent for guidance.
In today’s hot housing market, you need to partner with a Crafton PA Realtor who can serve as your guide, especially when it comes to making a strong offer on homes for sale in Crafton PA. If you’re thinking about moving to Pittsburgh or the surrounding Western Pennsylvania neighborhoods, let’s connect so you have a trusted resource and coach on how to make the strongest offer possible for your specific situation.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. and the Diane McConaghy Team does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. and the Diane McConaghy Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
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