Clean vs. Cluttery Offers
With multiple offers breaking out all over the Twin Cities housing market now, it’s a smart idea for prospective Buyers competing for a home to know what, besides price, is likely to set their offer apart . . . for both good and bad.
Good: a short, clean offer with a minimum of conditions and contingencies (or none, aka “cash”); a quick close (or whatever the Seller prefers); a generous earnest money check and significant downpayment (ideally, over 20%); a strong lender vouching for the Buyer; and a good Buyer’s agent coordinating everything.
Bad: the opposite.
An example of the latter is the would-be Buyer who — according to an agent at today’s Edina Realty office meeting whose listing just sold in multiples — came in with an offer that was $40k over ask, but included a Financing Addendum requesting $30k in seller-paid’s AND stipulated that “the home must appraise.”
They didn’t get the house . . .
See also, “Runner-Up Buyer Protest in Multiples: ‘But, I Would’ve Gone Higher!!“; and “Nine Steps to Winning a Bidding War.“
