In Marin County, it’s a great time to be a seller and a crazy frustrating time to be a buyer. Home inventories are at all-time lows. Some don’t want to sell their homes because they fear they won’t be able to buy another in Marin. Others  fear they will lose their low tax base if they relocate to another county.  It’s a vicious cycle. Searching for a home may make you feel like you are a competitor in The Hunger Games. While submitting a full-price offer isn’t likely going to be enough to cut it, don’t be discouraged. There are things you can do to get that perfect house.
 
I have helped my clients succeed in getting their Marin home in this crazy environment and want to share tips to push your offer to the front of the line.

1. No Contingencies - Make your offer as clean as possible – not be contingent on inspection, the sale of another property or have other financial constraints. It should also be free of seller concessions, which are things that a buyer asks for outside of the offer price, such as help with closing costs.
2. Offer Above Asking - This is not the market for making low offers and hoping someone will bite. Make your offer strong enough to beat out a multiple-bid situation. Consider going to your maximum on the first offer not in backup offer. Looking at comps is key and this is where my knowledge of the local bay area markets can make all the difference.
   Give me a buzz if you have specific questions and want my feedback. 415 902 8769 (TROY)
3. Larger Down Payment Than Required - No matter what type of loan you choose, offering more than is required is another sign of good faith to your seller. At minimum put 3% EMD (Earned Money Deposit) or initial deposit of purchase price down. This is the maximum that either the buyer or seller can get should either party back out of the contract. Show the seller that you mean business!
4. Add Escalation Clause - An escalation clause means that your offer will outbid other offers up to a maximum price. This means that you make an offer saying you will pay X price for a home, but if a higher offer is received, you will increase your offer to Y price.
5. Complete Package - This should be a no-brainer, but offers are received every day that are missing disclosures, EMD or pertinent information for the purchase agreement. In a competitive market, this could get your offer tossed. Include a compelling letter to the seller that may have an emotional appeal. I have had my client’s offer accepted at $30,000 below the highest offer because the seller liked my buyer’s personal story.

 
These things can go a long way to making your offer stand out and get you the home of your dreams. It is helpful to have a trusted Marin real estate agent to discuss the market dynamics with you and help you put together an approach to attain your real estate goals. For more home buying tips and information on the home buying process, please call/text me at 415 902 8769 (TROY) – I am always happy to help!