In this video I will give you my 5 proven strategies to beat out a all cash offer. It is very simple.
1.) Be fully underwritten: This is the next best thing to a all cash offer for a seller and in some defense is looked at the same way.
2.) Limit Contingency's: When you are going up against a all cash offer most likely there contingency's will be very limited. I recommend to do a inspection period of 3-5 days and limit other contingency's within the agreement if possible.
3.) Write a personal note: This is one of my favorites and can really help if you write your personal story out so the seller isn't just looking at you as another number in a purchase and sale agreement. Be as personal as you want with that and remember emotions can change around a deal fast.
4.) Put more EM up! Normally in a slow market 1% of the purchase price is sufficient enough but when the market is hot and houses are selling fast you might need to make your offer stand out with 3-5% of the purchase price as EM.
5.) Let the seller pick the closing date: This will allow the seller to close when they want to and not pressure them into a date that isn't going to work for them. This is where being fully underwritten is a priority so you can close the deal in a short amount of time.
Thanks for watching and tune in for more videos coming this week. M.W.F!
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