Essential steps to submit a winning offer in a Beverly Hills Luxury Real Estate Seller’s Market
Top home buyer tips for Beverly Hills Homebuyers to win in the Beverly Hills Luxury Real Estate market.
We all know it’s tough out there; cash buyers overbidding homes, multiple offers on most houses, and lost opportunities seem to be commonplace. How do buyers try to get an advantage in such a competitive environment? Erik Brown, a realtor in Los Angeles with years of experience in Beverly Hills Luxury Real Estate, presents these true tips for luxury home buyers in Beverly Hills. Visit his website and learn about houses for sale in Beverly Hills and Beverly Hills Luxury Homes tour. Here are 10 tried and true methods that, when combined, make your offer stand out in a crowded field:
Know the market you are entering before looking and offering. See homes going for % over list price in Y # of days. Be prepared for the high tide of the market.
Cash always trumps financing. There are fewer contingencies, fewer variables for the seller, and less time to close. If you can, offer cash.
3. GUARANTEED PRE APPROVAL
Make sure your financial ducks are all in a row by being pre-approved, credit pulled and verified, taxes/pay stubs/bank statements cleared and conditions removed for your loan. Have it in writing.
4. WRITE A LETTER
Tell the seller why you love their home, what makes it special, and how you will take good care of it. Flattery can go a long way, and sellers are curious as the rest of us; they would love to know a little about who will be making memories after them. Think of it like writing a resume that stands out among all the others.
5. E SIGNING
Time is of the essence. Have your agent bring printed contracts and fill them in AT HOME. Even consider leaving them on the kitchen table with a due date for the seller to see.
6. PERSONAL PRESENTATION
Ask the agent if you can present in person. Instead of being a piece of paper, become a human, a real person that loves the seller’s home and wants to do what it takes to own it.
Ask the listing agent what it will take to make the offer go. Please don’t wait to hear back; Hunt them down in all formats, like email, social media, text, call, or even go to their office.
8. ESCALATION CLAUSE
This one is magical. Call me, and I’ll explain it further, but in essence, write an offer that continues to go up to a certain point to beat all other offers below that point. It’s like using an auction in your favor.
9. BETTER OFFER
Beyond price, consider sweetening the pot for the seller; fewer conditions or contingencies, higher or non-refundable earnest funds, faster closing, etc. There are over a dozen points you can make to make your offer more attractive beyond just price.
10. SIGNING BONUS
I heard of a dentist that offered a seller and family a year’s worth of dental exams as part of their offer. What can you bring to sweeten the pot? Get your dealing in Beverly Hills Luxury Real Estate done like a pro following these tips, and don’t forget to connect with us to sell or buy homes in Beverly Hills.2nd place is the last place when trying to buy the home of your dreams. For even more tips, or to get access to a secret list of non-MLS homes, connect with us at:
Realtor/ Broker (BRE: 01958545)
Beverly Hills: 424-239-6519