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Multiple offer situations have become quite common in the Las Vegas real estate market. As a buyer, this can be awfully stressful. To give you the upper hand in these situations, I have a few tips to help make your offer stand out to the seller.
- Be pre-approved. Sellers will not even look at your offer unless you have a letter of pre-approval from a lender or you can show the cash for an all-cash offer.
- Have a 20% down payment ready. This shows the sellers that you're motivated and ready to go.
- Have all your paperwork in order. If you're organized and everything is put together right, you're showing the seller that you're serious and competent enough to go through with that transaction.
- Forget lowball offers. You're in a bidding war for a reason. When they send out a request for highest and best offers, you need to send them your highest and best offer.
- Keep your contingencies reasonable or remove them. The fewer contingencies the better. If you have no contingencies, the seller will want to work with you because they know you won't be a headache!
These five things should ensure your offer looks awfully attractive to the buyer and will give you the best chance of getting your dream home. If you have any real estate questions at all, please don't hesitate to reach out to me. I would love to assist you in any way possible.
