In today’s hot sellers’ market, standing out as a buyer is critical. Multi-offer scenarios and bidding wars are the norm due to the low supply of RCFEs for sale and high buyer demand. If you’re buying this fall, you’ll want every advantage, especially when you’ve found the RCFE of your dreams.
Below are five things to keep in mind when it’s time to make an offer.
- Know Your Budget
Knowing your budget and what you can afford is critical to your success as a buyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it:
“This pre-approval allows you to look for an (RCFE) home with greater confidence and demonstrates to the seller that you are a serious buyer.”
Showing sellers you’re serious can give you a competitive edge. It enables you to act quickly when you’ve found your perfect RCFE home. We can refer you to excellent lenders, depending upon your particular financing needs.
- Be Prepared To Move Fast
Speed and the pace of sales are contributing factors to today’s competitive market. When RCFE homes are selling fast, staying on top of the market and moving quickly are key. We would be delighted to find you an RCFE home that suits your needs, and help you put together and submit your best offer as soon as possible.
- A Real Estate Professional Can Lead You to Victory
No matter what the housing market looks like, rely on a trusted real estate advisor. As Freddie Mac states:
“The success of your (RCFE) homebuying journey largely depends on the company you keep. . . . be sure to select experienced, trusted professionals who will help you make informed decisions and avoid any pitfalls.”
Our team, RCFE Resource, is experienced, knowledgeable, expert and we specialize exclusively in care facilities all over California. We have insight into what’s worked for other buyers in your area and what sellers may be looking for in an offer. It may seem simple, but catering to what a seller may need can help your offer stand out.
- Craft a Strong, Fair Offer
In the past, offering at or near the asking price was enough to make your offer appealing to sellers. In today’s market, that’s often not the case. In our experience, approximately 50% of all offers in the past 6 months were at or above list price.
In such a competitive market, emotions and prices can run high. Having experienced agents such as those on our team to help craft a strong, fair offer is critical in these situations. We can help you understand:
- The market value of the home
- Recent sales trends in the area
- Current buyer demand
- Understand the Seller’s Needs, but Resist Waiving Certain Contingencies
When crafting an offer, you’ll want to keep both your best interest and the interest of the seller in mind. We will help you consider which levers you could pull, including contract contingencies (conditions you set that the seller must meet for the purchase to be finalized). Of course, there are certain contingencies you don’t want to give up, like the home inspection.
Freddie Mac explains:
“Resist the temptation to waive the inspection contingency, especially in a hot market or if the RCFE home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on an RCFE you can’t afford to fix.”
In today’s competitive RCFE housing market, it’s more important than ever to make a strong offer on an RCFE home. Connect with us TODAY at 949-397-4506 to make sure your offer rises to the top.
If you are considering buying, selling or leasing an RCFE, please call us TODAY to explore your options. We would be delighted to evaluate your business and provide price guidance. We will help you obtain the highest possible price for your RCFE.
Michelle (949) 397- 4506 & Melvyn (949) 500-3630