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