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How buyers are doing in the tough housing market

Location
Seattle, Portland, San Francisco
Publish Date
2021/09/24

The market spells bad news of bidding wars for buyers, but get creative and find a way to make your bid stand out. Offering the seller to cover the gap between the appraised price and the purchase price would work for you to close on your house. Let’s try offering extra time at no cost since they secure a new residence; it gives them a sense of relief. Agree to pay a certain amount above any offers that are up to your budget limit. Sellers prefer cash because there is no risk of third party's approval qualification, therefore, a high down payment conventional loan would be the next best thing. Negotiate upwards since a lowball offer may snag you a deal in a buyer’s market but may keep you from being competitive in a hot market.

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