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How To Compete with All-Cash Offers When Buying a House

bidding on a home


A frustrating thing to encounter when getting ready to put an offer on a home is finding out that you are up against someone that has made an all-cash offer. All-cash offers often get chosen because it makes the process much faster and easier for the seller. However, don’t give up hope just yet. By hiring an experienced Waltham Real Estate Agent you’ll be able to have a chance at winning against the cash buyers! Your Waltham Realtor will walk you through some important steps that we’ve listed below that will give you a leg up on your offer. 


Get a head start on the mortgage

Waltham Realtors recommend reaching out to your mortgage lender to see if they can speed up the process a little bit. Find out what information they need from you and get it to them as soon as possible. Some mortgage companies are offering pre-commitment documents which help speed up the process. If the sellers are looking for a quick sale it’s important to be completely ready and prepared with your mortgage documents when you go to put in an offer. 


Pre-order your appraisal

It might be harder to pre-order your appraisal with larger banks, however, with smaller banks, mortgage brokers, and direct lenders you can get your appraisal put together in advance. Your Waltham Realtor will help you include this information in your offer so that the seller knows that your appraisal has already been ordered. 


Up your offer

Cash buyers often get a discount because they are offering cash. If you are able to, Waltham Real Estate Agents will recommend upping your offer on the home. To increase your chances, offering a little more on the home will help you out. If the difference between offers is decent enough, the seller will be intrigued and might not resort to automatically accepting the cash offer. 


Introduce yourself to the seller

If you believe this is your dream home, Waltham Realtors suggest writing a letter to the sellers to introduce yourself. This will help the seller get to know you better. Since I’m sure their home is special to them, they’ll want to sell it to someone who feels the same way about it. By telling them a little bit about yourself and why you love their home so much it might push them towards accepting your offer over the all-cash offer. 


Give the sellers what they want

Accommodating the seller’s needs is key!  It’s possible that they still need time to find a new home for themselves or they need to rent the home from you for an extra month or so. If either of these is the case and you’re able to make the deal and let them stay for a little longer, say yes! If it means getting your dream home, what’s waiting an extra month or so?


Contact a Waltham Real Estate Agent

Waltham Realtors are always here to give you the best advice and insight as you navigate the home buying process. You Waltham Real Estate Agent won’t let you down! Reach out today by giving Hans Brings a call at 617-968-0022.

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