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6 Buyer Tips for Hot Housing Markets
Net Admin • October 23, 2017
Denver’s hot housing market has let up a little bit but not much. In a hot housing market, this means that buyers are typically submitting multiple offers or potentially will enter a bidding war. If you or someone you know are in the market to buy a home in Denver, here are six ways to give your offer the best chance for seller acceptance, especially when the competition is stiff:
1. Get pre-approved for your loan and have a strong cover letter prepared for your seller.
2. When making offers, try to be the first and don’t lowball. Being first to the negotiating table plants you firmly in the seller’s mind. When listing in a hot housing market–lowball offers are a losing strategy.
3. Opt for an escalation clause that tells the seller you’ll beat any offer exceeding your bid by $1,000, up to a maximum of your choosing.
4. Perform inspections upfront. It may cost a few hundred dollars, but it shows you’re serious–and when you make an offer without contingencies, sellers pay attention.
5. Tell them you love it and ask your agent to deliver a letter listing the reasons why this house is perfect for your family (include pictures and be specific).
6. Don’t overpay. Instead, research the market by reviewing comparable property sales prices, schools, and online reviews for local businesses. Chatting with neighbors can also provide a wealth of information.
Brett is a native to Colorado, being born and raised in the Denver Metro Area. Growing up, he learned the value of financial responsibility and gravitated toward an industry that allows him to counsel and coach clients about financial goals as it relates to Real Estate. Brett joined the lending industry in 2003. Throughout his career he has helped many families achieve their goals and dreams of home ownership. From First Time Home Buyers to Real Estate Investors, Brett has the knowledge and experience to tailor loans to your unique and specific situation. Working with Brett and Prosper Mortgage Group, LLC, you can rest assured your loan is in great hands with professionals that deal with this daily. Customer service, honesty, and integrity have set him apart from his competition while keeping his focus on the Clients’ best interest, determining the best possible loan for each individual situation, & helping them achieve their goals and dreams of homeownership! Through these principals, Brett has built a very successful career basing much of his business on the referrals of past clients as well as the Real Estate Professionals that he works with. Brett relies on personal responsibility, accountability, and mental toughness in his daily life and is a huge advocate of the 75 Hard / Live Hard program as well as personal development. NMLS 253202 CO MLO 100015587 Prosper Mortgage Group, LLC NMLS 2490880 Equal Housing Lender Inside Westminster is proudly sponsored by: Prosper Mortgage Group—helping you Own Your Future. NMLS #2490880 | Equal Housing Lender I 303.668.5891 I www.prospermortgagegroup.com Westminster Chamber 303.961.5975 www.westminsterchamber.biz
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