Working with a homebuyer to build the right offer can be stressful, especially when you know the market is hot. Do you advise taking a risk or should they play it safe? Playing the negotiation game can be tempting, especially when you have a client that is looking slightly outside their budget. But, the answer, especially in a competitive market like the one we’re seeing now, is surprisingly simple—lead with your best offer, and if possible, pay in cash.
Leading with your best offer has benefits for all parties. The upfront honesty allows buyers a sense of calm. They will know they don’t have to negotiate, they will know they tried their hardest for something they wanted, and they’ll feel more confident moving on if another offer is accepted. Sellers on the other hand, will take the offer seriously as they will be able to tell that your client is making the offer seriously. It’s a good faith effort by all. And, as sellers have little incentive to negotiate with below-asking price offers when you’re in a sellers market, it will save all parties time as well.
Another option is to make an all cash offer. We know what you’re thinking, but Ribbon can help!
As of Summer 2020, interest rates are at a historical low. However, lenders have become more picky about who they’re willing to back. Markers like acceptable credit scores are being raised and getting a loan is now harder for many than it was pre-Covid.
Meanwhile, sellers are prioritizing buyers who can pay in full—less risk of a sale falling through, quicker closings, fewer contingencies. This combination is leaving a large percentage of home buyers behind, as it’s not realistic for all to pay all cash upfront. That’s why we developed our Ribbon Cash Offers.
This option evens the playing field so that all types of homebuyers can make their best offers. Here’s how we can help. We will purchase the home your client loves with a contingency free, all cash offer. Then, once your client can secure a mortgage, we’ll sell the home back to them, at market value. They can even move into the home while they’re getting their financing figured out. Fewer back and forths with the selling agent, fewer moves for the client, fewer moments of panic for all involved.
For buyers who want the peace of mind of a cash offer and can secure their mortgage before closing, they can utilize Ribbon Cash Offers to upgrade. Your buyer will be making the strongest offer in real estate. This means fewer bidding wars, fewer open houses, and more happy clients.
We want to get more homeowners into homes that they love and we want to make sure that’s possible whether it’s a buyer’s or a seller’s market. We’re excited to help your clients do just that. To learn more about how our cash offer can make your offer the winning offer, check out our website or sign up for a free consultation.