What makes an offer competitive?

Buying in a hot market? There are ways you can increase the chances of your offer being accepted in multiple offer scenarios.

1. Be faster.

  • Sign up for alerts to get emails or push notifications when new listings match your search criteria.
  • Don’t wait for an open house. Visit listings as soon as possible.
  • Have your financial documentation and loan pre-approval ready to go.
  • Submit a pre-emptive (early) offer on the properties you like before others see them.

2. Make your offer stand out.

  • Write an offer letter. It may feel strange baring your soul, but it can be effective.
  • Offer to pay for some of the seller’s closing costs.
  • If you are financially comfortable, make an all-cash offer. They tend to be more attractive than a mortgage, which takes time and must be approved by a lender.
  • Agreeing to faster timelines and removal of contingencies help sweeten an offer, but be aware that doing so comes with its own pitfalls.
  • Start with your best and final price, and make that clear in the offer.

3. Think outside the box.

  • Find a home that’s distressed, and fix it up yourself.
  • Keep an eye out for homes that have been sitting on the market for a while (these sellers are usually more open to negotiations on pricing).
  • Look at land, new construction & alternative property types.
  • Broaden your search. Determine what criteria is critical and try to be flexible on the rest

Related Buyers FAQs

How does buying with Opendoor work?
Can I use my own agent to buy with Opendoor?
Why can’t I buy directly on all homes?
How does working with a partner agent differ from buying directly?
Explore FAQs categories

Have more questions?

Our customer support is here to assist you. Contact our support
team via email or phone: 480-351-6622.