The real estate market is hot in Northeast Ohio and all over the country right now. With limited
inventory, it is likely that any home on the market is going to receive multiple bids. If you are looking
to buy a home then here are some tips to follow in order to win against multiple offers.
A great way to have your offer stand out among the competition is by getting your mortgage pre-
approved. A pre-approval is different than a pre-qualification because a pre-qualification still has the
potential to be denied down the road. Having a pre-approval will show the seller that you are a
Large Down Payment
Offering a larger percentage down towards a home shows that you are a serious buyer. It will also
speed along the process for the buyer’s lender and increase the likelihood of a mortgage
commitment being issued.
Even if you cannot offer the highest bid then you should consider doing an all-cash offer if you are
able to. This offer will be much more attractive to the seller since it will help the sellers avoid
contingencies. You can always consider refinancing after you win the bid.
Work with the Sellers
Understanding the needs of the seller will help you structure your offer to be the most appealing to
them. Your real estate agent will be able to contact the seller or the seller’s agent and figure out
exactly what they are looking for. For example, knowing if they want a quick closing or not can be
important information to construct your offer around.