Here is Part Two of the four part series on winning the offer war. If you missed Part One, here’s the link to the piece about “Price”. Today we’ll be looking at the second factor:
- Prominent among the details is the answer to, “How will you be paying?” All cash with no need to seek approval for a loan is a strong offer, but some Sellers will accept financing contingencies when attached to a higher price.
- If you include a loan, always, always, always use a local lender. Why? Because local lenders KNOW THIS MARKET. Most of the delays, disruption and loan failure come through an out of area lender’s unfamiliarity with local market conditions and regulations.
- Sellers and listing agents will be on the lookout for ways your loan might go wrong. Make your down payment as high a percentage of the asking price as possible—lenders are happiest making loans where you have at least 20% of your own money in the deal.
- Date your close of escrow as close to the offer date as possible, which brings us to the third factor, Contingencies, which I will cover in Part Three posting July 22nd.
If you’re looking to write a winning offer, or to sell an East Bay home, I can help.
If you’re moving to another area, I can refer you to a trustworthy Coldwell Banker agent wherever you want or need to go in the US or the world. Coldwell Banker is an international real estate company.
So call me. I’m easy to get a hold of. As so many of us do, I carry my office with me wherever I go, so phone or text 510-418-1306 and you’ll probably reach me. I’m never too busy to take care of you– or your referrals–and I’ll make sure you’re glad you called.
If you want to get a feel for what’s going on in the East Bay Real Estate market check out my My Web Site to discover homes on the market–neighborhood by neighborhood–almost as soon as they’re posted on the MLS!
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