The real estate market in the Twin Cities is getting very active, and this means that homes are now selling with more than one offer on them. This is great for sellers, but can be a struggle for buyers. Luckily, I have some tips for buyers in the Twin Cities looking to win the home of their dreams.
If you're a buyer in this market, make sure you're making full price offers on homes, or even offer a little more. In a multiple offer situation, sellers will not settle for less than what they ask for. Another thing I would recommend is to eliminate seller-paid closing costs. It's not a full price offer if you're asking for the full price but also having the seller pay the closing costs.
If you put down a large amount of earnest money, that's another great way to let sellers know that you're serious about buying. Cash is always king in this instance because it eliminates financing and appraisals. However, if you're financing the home, make sure to have a solid pre-approval letter that states that you are ready and willing to purchase the home.
Another important consideration is to ask the seller when their ideal closing date is. If you can match that date, they're more likely to accept your offer, especially when you allow them a few extra days to move out of the home. This takes a lot of stress off their plate, and sellers will appreciate this immensely.
The main thing is to communicate with the seller and find out how to satisfy their exact needs. If you can do this, you have a very good chance of getting the home that you want.
If you have any questions about this subject, please don't hesitate to contact me!
