- The Most Common Goal. Get your offer accepted at the lowest possible price, with terms in your favor, and a possession date that works best for you.
- Multiple Offers. This often means an offer at or above the asking price, short contingency periods (or none), flexible close of escrow and potential seller rentbacks (often at no charge). Our goal is getting your offer accepted without overpaying, unless instructed otherwise. Finding out what terms the sellers are looking for can also increase the odds of an acceptance. Your financial qualifications will play a role, and our ability to know the number of competing offers will also play a role. We can use a percentage for each competing offer based on market results as well. This strategy often helps in not paying too much above the other offers or falling well below.
- Pre-Emptive Offers. Getting an offer accepted before an offer date is another way go. Easier said than done, but it can be an option. Submitting an aggressive offer before the offer date is a common plan. The offer is often above asking with strong terms, and may include a short expiration deadline.
- Full Price Offers. These often have minimal contingencies with a quick close of escrow. They are often best for homes priced correctly, not overloaded with offers and a home that’s an excellent match.
- Below Asking Price Offers. More common with overpriced homes, long Days On Market (DOM) or fixers, plus longer contingency periods as part of the offer. The goal is often to buy right to create added equity.
- Escalation Clause Strategy. This type of offer includes a clause to beat competing offers by X amount (up to a cap). These are best in multiple-offer situations. The goal is to be the top offer without going too high above the others.
Note: Some agents and sellers don’t support this type of offer, feeling it’s an unfair tactic.