With the housing market having some opportune conditions that make it a great time to buy a home, buyers are flocking to “For Sale” signs across the nation.
The Competitive Struggle
For some individuals, finding the perfect home can be the easy part of the process. The difficult aspect of purchasing a home? Your competition. Chances are if you find that dream home, there is a good possibility that other buyers feel the same way about it.
It is not uncommon to see buyers find that perfect home, only to get outbid by another individual. Cue a HousingWire frequent reader who had similar issues when it came to losing the bidding process time and time again, but struck gold when trying a new technique. The frustrated reader shared with the site that she feels she may have found a secret ingredient in the bidding mix to sweeten the deal.
The Secret? Personalizing Your Offer
After finding a dream home with her husband, they realized they could not go the same route they had been before that led to losing the offer war. Instead, they wrote a letter to the home owners describing how they loved the house and what it would mean for them if they did receive it. Looking to put some icing on the cake, they included a picture of themselves with their six-week-old chocolate lab puppy. Sure enough, the owners contacted them expressing they would like to accept their offer (despite a flurry of others), stating that it was their letter and the picture that sold them.
When you’re on the purchasing prowl, try out this secret weapon of personalizing your offer with the current home owners. With the number of buyers and the low inventory, the strategy can’t hurt!