How to get your Offer Accepted

in a strong Seller's Market

Amy Gerrish

Realty Executives

Getting an offer accepted in a multiple offer situation takes a bit of strategy and finesse. We've put together a list of tips & strategies we use make sure our client's offers stand out against the competition.

Amy Gerrish, Realtor

Tip 1

Pay the Seller's Closing Costs.

In a crazy seller's market, homes may not appraise when a buyer offers for a lot more than asking price. That's why offering to pay the seller's closing costs, along with your highest offer is usually the best combination.

I offer a closing credit to my buyers so they don't have to come out of pocket if they decide to go this route. Learn more here.

Tip 2

Get Pre-Approved

All offers written on documents from the state's real estate board require a pre-approval be attached. If you are truly serious about purchasing a home reach out to a lender to get one.

Tip 3

Earnest Money

There are a couple of different strategies you can use to give the seller more confidence in accepting your offer.

1) Increase your earnest money deposit - Earnest money sits in escrow and will revert back to the seller if the buyer breaches the terms of their offer. There are only 2 exceptions to this.

Exceptions during a sale in the State of Arizona that a buyer can get this money back.

  1. During Inspection: If you completed an inspection & have decided that home requires too many repairs you can walk away from the house AND take your earnest money with you.
  2. If you don't qualify for the loan - If the underwriter decided not to issue a final approval, you can also walk away from the house AND take your earnest money with you.

2) Make your earnest money non refundable - If you are confident that the house you are buying is 'THE ONE' you can also let the seller know that you are serious by removing the 2 reasons above that allow you to get a refund. This means you are confident that your financing will be approved & you aren't worried about repairs.

Tip 4

The Home Inspection

We are going to start by saying:


What you do about it matters. Here are some options that seller's like to see:

  1. Shorter Inspection Period: Our default verbiage in most offers allow the buyer 10 calendar days to inspect the property. You may want to shorten that to 5 or 7 days.
  2. Waiving Repairs: You may want to waive your right to ask the seller for repairs. This gives the seller confidence that, even after you've completed an inspection, you will move forward with the purchase with out further negotiations or haggling. You will be responsible for all repairs.

Tip 5

Include an Escalation Clause

With this clause, you state that if another person bids higher than you, then your bid will automatically go up as well. An example of this could be that you will offer $500 more than any other bidder until a certain amount. The risk of this clause is that it shows the seller the maximum amount you’re willing to offer for the house, so don’t put more than you would want to pay.

Tip 6

Pay Your Own Closing Costs

Don't ask the Seller

Closing costs can vary from plus or minus $3,000 to $6,000 when purchasing a home. This amount will be a combination of the fees your lender charges along with title/escrow fees/hoa fees.

If you don't have money to cover all of these costs, ask your lender what they can do to roll in your closing costs into the loan or the concession I offer in my Buyer Benefits package.

(In highly competitive markets, it's better to use this benefit to pay the seller's closing costs.

Other strategies we use...

I always do 'Due Diligence' on on the Seller

Finding out what is most important to the seller when writing an offer always varies.

This may include finding out things like:

  • Shorter closing Time? - They may want a fast close because they are moving fast.
  • Longer Closing Time? - if they still need to find a new place to live.
  • Will they make repairs? - Do they not have money for repairs? Are they out of state and will have a hard time coordinating them?
  • I Always ask "what is the most important to them in this transaction?" - Then figure out how to make it happen.

And Lastly:

  • Submit a Letter - This pulls on their heart strings a bit if you submit a letter of why their house is perfect, along photo of your family.