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  • Writer's picturemhpaugusta

How to Get an Offer Accepted at the Start of 2023

As the mortgage rates started to increase, so did the amount of time homes linger on the

market. At the height of the market homes were selling in a few days. Now they are taking

months. Instead, sellers now have to negotiate to sell their homes. Even though the market has started to normalize, offers are still being denied. Quite frankly, they get denied because they are just bad offers. Yes the market has returned to normal, but no we are not at the point where low balling will do you any good. You do not want to offend a seller because it’s hard to undo a bad first impression.

This guide is actually meant to forgo any negotiations. By making an offer the seller would be

crazy to refuse, you can lock down a property. It’s crazy to say this, but you just need to make a

solid offer.

Your offer will get accepted if you follow this guide, so the only criteria the property must meet is

you loving the home!

Purchase Price

Our home values are still in a good spot and sellers know that more than anyone. Now is not the

time to low ball and risk offending the seller. As long as the value is there, make an offer at or

close to the asking price. If you need to ask the seller for closing cost contributions make sure to

increase your offer price to make up all or most of the difference.

Appraisal Contingency

Once everyone started talking about inflation, appraisals not coming back at the purchase price

became more prevalent. With the turn in the market, removing an appraisal contingency is no

longer necessary to beat out competition. When using a mortgage lender to purchase you will

have an appraisal contingency. If the contract is overpriced more than likely you will get the

seller to come down to the appraised price. Overpaying for a property is no longer a concern

now that appraisal contingencies are back.

Earnest Money

Earnest money is great because you can get aggressive without any risk. As long as you

terminate within your due diligence period you will be entitled to your earnest money back in full.

My advice for your earnest money offer would be at least 1% of the contract price. Of course

more will always make your offer stronger.

Due Diligence

I always recommend my clients request a 7 day due diligence period. That is plenty of time to

have inspections completed and repairs negotiated. It is also a great way to strengthen your

offer. It shows you are prepared to purchase the property and not wasting the seller’s time off of

the market.

Closing Date

Anything longer than 35 days out from the binding contract is a no go. The sellers have their

home on the market for a reason. They want to get it closed as soon as possible. There are only

a few lenders that cannot get the clear to close in 30 days. A good lender will be able to get it


Mortgage Lender

Speaking of good lenders, by using a reputable local lender your offer will stand a better chance

at getting accepted. Nothing is more annoying than dealing with multiple people who have to get

“caught up” with your file. Local lenders are also the ones who make things happen and who will

go the extra mile for you.

In this market the competition is low and from what I’ve seen from offers we have received-

incompetent. Just know that submitting a solid offer is really all you need at this point in time. If

you really like the home don’t waste the opportunity on haggling and potentially losing the deal

or the seller all together.

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