Strongest offer on a house

[Anonymous]

What is a strong offer these days? Full list price? Escalation clause required? What about waiving of contingencies? Would it be a bad idea to waive financing contingencies if you are positive the loan will not be an issue?

[Anonymous]

Yes

[Anonymous]

Anonymous wrote:Yes

Yes to what?

[Anonymous]

waive everything, offer above, prepare to pay over appraisal

[Anonymous]

Offer above? Or at list with escalation clause?

[Anonymous]

Full list, cash, no contingencies, flexible close, 10% EMD

[Anonymous]

and if you can do all cash...

[Anonymous]

You have to do what you're comfortable with. Our offer won at full list with an inspection which only let us KO (not requiring the seller to make repairs) and a short closing period (20 days I believe). Our deposit was not even 5% and we just weren't in a financial position to potentially have to make large repairs.

[Anonymous]

Agree to rent backs. Seems like sellers like that.

[Anonymous]

Anonymous wrote:You have to do what you're comfortable with. Our offer won at full list with an inspection which only let us KO (not requiring the seller to make repairs) and a short closing period (20 days I believe). Our deposit was not even 5% and we just weren't in a financial position to potentially have to make large repairs.

Same PP here. We did waive appraisal, but we've been tracking this market for a while and were pretty confident it would appraise out, or be very close. If we had to bring another $10k to the table, we were prepared to do that. Wasn't an issue though.

[Anonymous]

All cash is best.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You have to do what you're comfortable with. Our offer won at full list with an inspection which only let us KO (not requiring the seller to make repairs) and a short closing period (20 days I believe). Our deposit was not even 5% and we just weren't in a financial position to potentially have to make large repairs.

Same PP here. We did waive appraisal, but we've been tracking this market for a while and were pretty confident it would appraise out, or be very close. If we had to bring another $10k to the table, we were prepared to do that. Wasn't an issue though.

Do you mind sharing where you bought? and when? Thanks!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You have to do what you're comfortable with. Our offer won at full list with an inspection which only let us KO (not requiring the seller to make repairs) and a short closing period (20 days I believe). Our deposit was not even 5% and we just weren't in a financial position to potentially have to make large repairs.

Same PP here. We did waive appraisal, but we've been tracking this market for a while and were pretty confident it would appraise out, or be very close. If we had to bring another $10k to the table, we were prepared to do that. Wasn't an issue though.

Do you mind sharing where you bought? and when? Thanks!

Old Town, very recently. Our realtor tried to persuade us to structure our offer differently, but we did what we were comfortable with. He and we were surprised that we won, and apparently it was the quick close that worked in our favor.

[Anonymous]

It really depends on the particular seller and the house. This is where a good realtor earns their pay. When we were up against 7 other offers, one being all cash and other with higher escalations than ours, what gave us the edge to win was offering free rent back to the seller for the maximum time allowed by our loan...I think it was 2 or 3 months? In our case the seller was moving to a different state and needed time to search for a new home. In other instances, the seller may already have an offer on another house and so fast closing will be in your favor. Also, in this very hot market, some houses may be selling for way over appraisal value and so waiving a portion of the appraisal (if you have the cash to cover it) will make your offer more attractive. A good real estate agent should be able to research your situation and give you good guidance on what makes the strongest offer. In this very competitive market, I would recommend finding a GOOD realtor.

[Anonymous]

I'm selling my house right now and pretty much the only thing we're concerned with is the offer price. I'm annoyed by offers that ask me for more things like warranties, pest inspections, closing cost help.