4 Tips To Help You Win In This Market

Four tips that will help buyers make winning offers in our market.

Currently, the DMV market is very competitive, especially for single-family homes. Many people are now out shopping after a slow Q4. It can be disappointing and frustrating to have multiple offers rejected, but now is the time to keep looking before interest rates rise. To help you win in this market, here are four tips for putting an offer on a house:

1. Do a pre-inspection before making an offer. You’ll learn about the condition of the house, and you’ll be able to waive your inspection this way.

2. Talk to your lender to be approved. Your lender can get you approved by the underwriter (pending locating a property that you like) after you submit all your paperwork. You have a better chance of competing as a cash offer versus a mortgage this way.

"A lot of people are now out shopping
after a slow Q4."

3. Ask your lender how soon they can do the appraisal and close. Find out what the seller’s situation is. Are they occupying, or are they in a contract with another property? Do they need time to move? Learning about these details will help you tailor your offer.

4. Tailor your contract to suit the seller. For example, if the seller is living in the property and needs more time to find a new home, offer a rent-back. Keep in mind that a rent-back agreement can only last 60 days before the home becomes an investment property.

If you want more tips or have any questions, don’t hesitate to reach out to me by phone or email. I look forward to hearing from you.