There’s no doubt we are in a hot seller’s market where there can be stiff competition: multiple buyers, cash offers, and above asking price offers. Hoss Group Realty wants to help you stand out and give you tips that can help you come out on top. Here are our top five tips.

1) Qualify for the lowest mortgage rate you can

Fortunately, mortgage rates are still at record-lows. To ensure you’re getting the best mortgage rate, take the time to boost your credit score, pay down debts, and save up a larger-sized down payment.

2) Before searching for your dream home, get pre-approved first

Getting pre-approved first will show the seller how serious you are as a qualified buyer. A mortgage lender will be able to take your financial information and determine what amount you will be able to borrow. Having your pre-approval letter in hand before you start searching will save time.

3) Lean on trusted advisors (aka your friends at Hoss Group Realty)

Having a great real estate agent can give you the upper hand in a seller’s market – let’s not forget to mention their top-notch negotiating skills are key. An experienced agent will not only offer useful advice, but will also have valuable rapport with other agents and community knowledge to expedite your home search.

4) Flexibility

When submitting an offer especially in a multiple offer situation, it’s best to keep the offer clean and simple. Do not ask for contingencies that aren’t necessary to close the transaction. Asking for a shorter inspection period, 5 to 7 days, lets the seller know how serious you are and aren’t looking to waste anyone’s time. Sending a copy of the escrow check with your offer will also show the seriousness of your offer. Convey through your agent that you are willing adjust the closing date to suit the seller’s needs.

5) Personal Touch

Writing a cover letter with a photo attached is a great way to let the seller know why this specific home is perfect for you. Let the seller know who you are, what you like about the home, and that you intend to take good care of their former residence. Most importantly, let them know what it is about the home that has already make it special to you.