4 Ways To Make an Offer That Stands Out This Spring | Best Physician Mortgage Loans with 0% Down and No PMI
Now that spring is here, more and more buyers are jumping back into the market, and competition is heating up.
If you’re serious about landing a home you’ll love, you need more than just a wish list. You need a smart strategy – and that starts with working with a great agent who can help you put together a strong offer.
Here are some top tips your agent will share with you that are helping buyers stand out (and win) in today’s market.
1. Don’t Lowball on Price
It’s tempting to start with a super low offer in an attempt to save money. But in a competitive spring market, that could backfire. If the price isn’t reasonable, you could offend the seller and lose out to a better bid. As NerdWallet says:
“If you really want the property, you should avoid offending the seller. So, be wary of placing a so-called lowball offer. One of the most obvious risks of making a lowball offer is outright rejection. . . As a buyer, you’ll need to find a balance between making a fair offer and running the risk of losing the property.”
Your agent can help you understand local pricing trends and what a fair, yet strong offer looks like this season.
2. Consider an Escalation Clause
If you’re worried about competing bids, an escalation clause can help. If you have an escalation clause and the seller gets another offer, it increases yours up to a certain max amount you set. That way you don’t lose out over a small difference. Investopedia explains it like this:
“An escalation clause is a way to automatically escalate your bid by a certain dollar amount, up to a certain ceiling, to compete with other bids.”
Work with your agent to decide if this tactic fits your situation and budget. Just be sure not to stretch beyond what you’re truly comfortable spending and that the home is likely to appraise for the amount you offer.
If the appraisal comes in lower than your offer, you may have to make up the difference out of pocket. Your agent can help you weigh these risks and determine the best approach for your specific situation.
3. Be Intentional About the Concessions You Ask For
While some concessions (like help with closing costs) might be possible, too many demands could make another buyer’s cleaner offer more attractive. As the National Association of Realtors (NAR) notes:
“There are many factors up for discussion in any real estate transaction—from price to repairs to possession date. A real estate professional who’s representing you will look at the transaction from your perspective, helping you negotiate a purchase agreement that meets your needs . . .”
An agent who knows what’s working for other buyers in your area can help you prioritize the most important asks – and avoid ones that could turn off the seller.
4. Consider a Timeline That Appeals to the Seller
Sometimes, it’s not just about price, it’s about timing. Does the seller need extra time to move out? Or do they want to move as soon as possible? Flexibility here can work in your favor. By adjusting your timeline (if you’re able to), you could stand out against other offers. According to Atlas Van Lines:
“Everyone will have a unique timeline depending on the size of the move, the distance they are moving from or to, and personal preferences. It is important to be flexible and adapt the timeline as needed while ensuring you allocate enough time for each step.”
Your agent can communicate with the seller’s agent to find out what matters most, including timing.
Bottom Line
Spring is here – and more buyers are entering the market. Let’s work together to make sure your offer stands out.
What’s one thing you want to feel confident about before making an offer this spring?
Physician Loans USA, Real Estate Solutions for Doctors, matches borrowers with potential lenders and agents in the field of mortgage lending, home buying and relocation service
PLEASE USE THE FORM BELOW AND WE’LL LET A PHYSICIAN LOANS USA SPECIALIST KNOW THAT YOU ARE LOOKING FOR MORE INFORMATION
THREE BEST PHYSICIAN MORTGAGE LOANS IN ILLINOIS
A National Bank: Click here for Program Features and Loan Officer Contact Information
Available in the following states: CO, IL, IN KY, MI MN, ND, OH, SD, ND, WV, WI, PA
WINTRUST Bank: Click here for Program Features and Loan Officer Contact Information
Available in the following states: AZ, CA, FL, IA, IL, IN, MN, MT, ND, WI
Genisys Credit Union: Click here for Program Features and Loan Officer Contact Information
Available in the following states: AL, AR, CA, CO, CT, DE, DC, FL, GA, IL, IN, IA, KY, MD, MI, MN, MS, MT, NE, NJ, NM, NC, OH, OK, OR, PA, RI, SC, SD, TN, UT, VA, WA, WV, WI, WY
To connect with us directly,
Or via email: INFO@PHYSICIANLOANSUSA.COM
Visit us at www.physicianloansusa.com
Just call 216-616-4332 for more information
