(301)943-4370
I recently sold 3603 R Street, NW Washington, DC 20007. There were 6 offers on this home. We won and my buyers got a great deal!
When it comes to making an offer on a home and you are told that multiple contracts are being presented on the home, the key is figuring out how to make your offer stand out and making sure you are comfortable with the terms of your offer. Price isn't everything but it does carry a lot of weight. Sellers look at the buyer's loan approval letter, evaluate the buyer's financial information and whether their offer has a financing and/or an appraisal contingency. To make their offers more attractive (because every contingency is an additional step in the home sale process and sellers want as few steps in the process as possible), some buyers forego these contingencies.
A few things to consider if you are going to forego the financing and or appraisal contingencies:
*you are comfortable with the market trends and the value of the home.
*you are putting a lot of money down and don't need the loan to be the sales price
*you have cash in reserves to bring to settlement just in case there is an unexpected turn and your loan cannot go through or close on time.
*You can easily show the seller(s) proof of funds. A deal with no financing or appraisal contingency is wonderful only if a seller sees that the buyer has the resources to complete the transaction.
Some buyers forego home inspections. I would tell buyers at the very least to do a general inspection so you are made aware of any potential issues with the home that come with ownership. When one does a general inspection, it is for informational purposes and not negotiating purposes. You can structure your sales contract so that if you are not satisfied with the inspection that you can void the contract.
The good news for my buyers is that they we were able to negotiate a regular home inpsection in the contract and got the selling party to take care of a few inspection items.
When it comes to buying and selling homes, think of Adam Bashein for Maryland and Washington, DC.
If you know someone who is considering relocating, their first move should be contacting me. I always have time and grately appreciate your referrals.
Life is good!
Adam (301)943-4370
Office: (301)469-4700- ask for Adam
adambashein@mris.com
www.basheinhomes.info
Adam Bashein
Licensed in MD & DC
Long & Foster Real Estate, Inc.
information deemed to be accurate but not guaranteed
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