With so few houses on the market in WNY, and so many buyers looking for their new homes, many houses sell fast, above asking, and with multiple offers. Using an experienced Realtor who understands the contract is an important step to winning a bidding war. Not only should your Realtor be able to fully explain all aspects of the contract, but they should also know how to make your offer more enticing to the sellers. While I would never recommend skipping a home inspection by a NYS licensed home inspector, shortening the inspection contingency to 3 days versus 7 days is a great way to entice a seller to go with your offer. During the inspection period, a buyer can cancel the contract without any repercussions like losing a deposit. Therefore, shortening the time period a buyer can walk away from the contract is an enticement for a seller, especially in a multiple offer situation. This is just one of many options that are available to help win a multiple offer situation, especially if two offers are offering the same purchase price. Make sure your Realtor is knowledgeable and able to give you every advantage in this extremely competitive market.
11/16/2022 04:35:15 pm
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Ashley J. Litwin
Licensed Real Estate Broker and Attorney