Found 3 blog entries tagged as Negotiating.

More Homes Selling to the Highest (Cash) Bidder

Westchester County’s housing market has strongly favored sellers in recent years, with many buyers forced to offer above the asking price just to stay competitive. According to my research, 56.2% of homes in Westchester sold for more than the listed price last year.  With all-cash offers becoming more frequent,  HousingWire is reporting that New York ranks second in the nation with 40.4% of purchases made in cash. It begs the question: What makes cash offers so appealing to sellers?

  1. Fewer Risks: No appraisal and mortgage approvals are required.

  2. Can Close “As-Is”: The ability to close with issues like open permits or code violations which lenders will typically…

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After 5 emails, 21 phone calls, and 181 text messages - we had a deal.

As a service-based business, it’s natural to want to share only the wins, but it’s just as important to be honest about the tough moments, too. If you’ve been house hunting lately, you know how tough the market is.

Last week, my buyers offered $100,000 over asking with excellent terms — strong down payment, no formal inspection, and a flexible closing — for a home they truly loved. It wasn’t a bidding war, but there was competition, and comparable sales supported the offer. So, we led with a strong and serious offer.

Then, we lost — to an all-cash buyer.

We regrouped, removed the escalation clause (since $20k over all-cash wasn’t enough of an…

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Two Key Terms of a ‘Highest and Best’ Offer

Most buyers are familiar with the traditional terms of an offer to buy a home. They include the purchase price, down payment amount, financing details, desired closing date, and any inclusions or exclusions of items such as furniture or fixtures. However, there are two key terms that can help influence a seller’s decision during “Highest and Best” situations:

Escalation Clause: Allows a buyer to automatically increase their bid if a competing offer is higher. They should always include an initial offer, the increase amount, cap, and a request for verification of the competing offer which triggered the escalation.

  • Example: Let's say a buyer offers $800,000 for a home…

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