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REAL ESTATE 2021 | An Experienced Agent Can Be Your Ace In the Hole by Penny O'Brien, Realtor




DEAR MR. & MRS. SELLER,

PLEASE LET ME BUY YOUR HOUSE!


LOVE,

YOUR VERY EAGER, NON HOME SALE CONTINGENT, AS-IS, 70% FINANCING, APPRAISAL WAIVING BUYER!

WE'LL EVEN THROW IN THE GOLDEN DOODLE


In this tough market for buyers, it is important to use a seasoned real estate agent whose experience can be your ace in the hole. In this 2021 buying season, buyers are writing offers on 3, 4 or even 5 homes and still not emerging victorious. When you find yourself in multiple offers, it often takes a combination of terms to win the home.


1. Do not go into the home buying process with a home sale contingency. Work with your savvy lender to come up with creative financing that allows you to purchase without writing a home to close contingency in your contract.


2. With listings receiving an average of 4.1 offers, it has become the new normal for the buyers to agree to an AS IS purchase. The buyer will still conduct their inspection, but not ask for repairs.





3. There are a lot of new terms being coined today as buyers hustle to secure a home! List price is the new starting price. With many homes selling above list price, $10k to $25K, the seller is sweating the appraisal. Buyers are adding an appraisal waiver addendum to their contracts. Some buyers offering an appraisal gap waiver of a certain dollar amount, such as $10K.


4. Escalation clauses are a great way to end up the top dog. Previously, $1000 over any other offer up to your chosen cap amount worked. Now, It is $2500 to $5000 over. It needs to be enough to make a difference.


5. Have your realtor ask the list agent what terms would make the seller happy. What is the seller's preferred closing date! Seller's love this!


6. And of course, the personal love letter to the sellers. Sometimes you can write a letter than tugs on the seller's heart string. Although you did need to be mindful of fair housing laws, ie no pictures of the happy buyers. Some agents not allowing letters so as to not cloud the seller's decision.



ABOUT PENNY O'BRIEN

BAIRD & WARNER – One word that consistently comes to clients’ minds when they think of Penny O’Brien is “hustle.” As a Seller Representative Specialist, she loves meeting with sellers to discuss pre-market home improvements and guide them to make their home “showtime ready” when it hits the market. She strongly believes in professional staging and offers it as a complimentary service. With a reputation for “good-looking listings,” she helps clients realize a higher return and quicker sale. Penny says “Staging transforms a home from average to amazing”.


Penny O'Brien Broker, Relocation Specialist and

Negotiation Expert • (630) 207-7001 • penny.obrien@bairdwarner.com













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