4 Ways To Beat Cash Offers

Are you a buyer in the current real estate market who keeps losing to cash offers? More people are submitting cash offers lately, and that can be very attractive to sellers. So today I’m sharing the four strategies I use to help financed buyers be more competitive in the present market: 1. Have your agent reach out to the listing agent. Your real estate agent should reach out to the listing agent and see what the seller needs. Agents don’t always do this, but it’s crucial to find out what’s important to the seller. Do they want more or less time to close? Do they need possession after closing? Is earnest money very important to them? 2. Consider the contingencies. I am not advising that you waive all your inspections or the appraisal. You need to be educated about what’s critical in your transaction and what you can live without that could make your offer more competitive. Your agent should be able to walk you through your options and what you can do to make your offer more attractive.

"These strategies can help a financed buyer win against cash offers.."

 3. Learn about escalation clauses. If you’re looking in the market right now and don’t know about escalation clauses, ask your agent about them. Our team members are well-versed in escalation clauses, how to use them, and how to make them attractive to a seller. Research this option to see if it fits your situation.

 4. Have a strong, reputable, local lender. As a financed buyer, ensure your lender is strong, trustworthy, and local. There have been plenty of times where my seller clients have chosen an offer based on the lender, not the terms of the contract. You need a lender who knows the local market, has a great reputation, will answer the phone when you call, and will get the deal done.