“I’m competing with other buyers for the same house. How do I make my offer stand out?”

A: Spring tends to be the busiest time of year for home buying, so it is not uncommon to find buyers competing for the same house.  In these multiple-offer situations, a buyer needs to be prepared to pull out all the stops and bring their best offer to the table.  Below are ideas to consider, which can make your offer stronger:

  • Offer above asking price
  • Don’t ask for any credits from the seller
  • Submit a high earnest money deposit
  • Waive contingencies as you are able
  • If you can’t waive a contingency, shorten its timeframe
  • Include an escalation clause (will inch your offer above competing offers in specified increments up to a specified amount)
  • Give the seller their choice of settlement company
  • Give the seller their choice of settlement date (as your financing allows) or offer them a rent-back period
  • Offer to pay for the termite inspection
  • Don’t ask for a home warranty or offer to pay for it
  • Write a personal letter to the seller explaining why you love the home

Your real estate agent will be able to help guide you in structuring a competitive, winning offer. Happy house hunting!

Posted on April 12, 2016 at 6:00 pm by Palmer Harned

This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.