All 4 of my listed homes in the last 4 weeks have received multiple offers. In addition to offering high prices, some buyers are removing appraisals and inspection repairs. How do you compete? How does the winning offer stand out? Price is not everything. Having negotiated dozens of competing offer situations for home sellers, and written dozens for buyers in the same boat, here is what I have found:

Price is important, first thing that is looked at. Know your market and pay attention to your agent's research. Chances are in today's market, the data will not support your offer. Some buyers now only look at homes $10,000 or 20,000 below their limit, expecting to bid over list. Be comfortable with it or adjust to a price that you are, then read below. You need to find that happy offer price where you do not have regrets either way it goes.

Second is financing. Talk to your lender, and possibly financial planner, about the ability to remove your financing protection and write "cash offer", and if you can remove your appraisal protection too. Having extra cash or other sources is important here, you do not want to put yourself in default. Perhaps equity in your current home, family members, brokerage or other accounts you can borrow against. "Cash offer" does not mean you have to pay all cash, it just means you removed the financing clause in the contract and retain the right to get whatever loan(s) you wish. Bottom line is, as long as your lender approves, you can arrange the funding however you wish, just show up at closing with enough.

Third is inspections. Your agent's experience can be very helpful here, as your initial walk-thru of the home will determine if you are comfortable removing any of these protections. Three main choices are (1) after inspections, not asking the seller to do any repairs, but reserving right to terminate (called buying "as-is"); (2) asking the seller for repairs, but removing the right to terminate without just cause (removing opt-out clause); and (3) not do inspections at all (usually rehabbers - sellers love this one). And some variations as well, like retain all rights, but agree up front not to ask for the rotting tie walls. Beware that some types of financing like FHA ask for clear code and termite inspections.

There are more terms you can make attractive: higher earnest money, preferable closing date, extended possession after closing, preferred title company, accept any items they wish to leave behind, shorten your clauses for inspections and financing, don't ask for seller to pay your closing costs. You want the seller to feel confident that you are going to close the sale and not cancel. You can have the winning offer without the highest price by giving up some protections.

If these tips are still not enough, or you have to sell a house to buy, or need seller to pay your closing costs, or just not willing to play the game? There are other alternatives, contact me for more details!