Market Myth 🤫
Are you guilty of thinking the ""highest offer"" is always the BEST offer? Here are additional factors that play into it besides just the highest offer.
➡️ Cash is always king. If you can pay cash you'll likely win out over a high-priced offer.
➡️ A preapproval letter. A preapproval letter is the confirmation you’ve acquired from your mortgage broker or bank that confirms you’re ready to buy in a set price range and have been preapproved for the loan.
➡️ Timeline flexibility. Typically, the closing period lasts 30, 45, 60, or 90 days. Customizing the length of the closing to suit the seller’s needs can often help seal the deal over a higher offer.
➡️ Not overloading on contingencies. Contingencies are negotiating tools that give you an opportunity to walk away without consequence. The most common contingencies are the inspection, the financing, and the appraisal.
