Making The Offer - Strategies in a Hot Market
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Summary of a hot market
Data shows 45 days - what that really means
Days on Market
Houses get listed on a Wednesday or Thursday - Why
Pool of buyers
What you need to have ready before you go to your showing
Earnest Money check
Personal letter to the Seller
Pros about the neighborhood
Pros about the house
How to structure the offer -
Full Price Offer?
Closing Costs paid by seller?
Moving the closing date?
Let the listing agent know right away?
Send the offer right away?
Watch for the email blast to all participants
Shopping the deal - time restrictions
Why we list on Wednesdays and Thursdays
Don't be discouraged if you lose out. In hot markets, you are likely to lose out 2-3 times before you win.
Why? Urgency - Understanding the market - Offering at the top of your approval limit.