National Agents:
In a sellers market: (Sellers have lots of buyers to choose from.)
If your buyer found the house they love, they have to come in with an aggressive contract. That means full price, with an escalation addendum. (which means they out bid any other offers in a certain increment level with a lid.) In addition to a strong lender letter and high EMD, here are other tips:
No home inspection, because other contracts will not have it and it only stands as a possible issue for the seller to have to fix things.
No seller subsidy, which means the seller will pay the buyers closing costs. Seller subsidy would be left blank until we have a buyers market.
No Pest inspection ( unless required by the lender which is usually FHA and VA.) Even if the buyer pays for the inspection, ($50) the seller would have to pay for any problems.
No Home warranty unless the buyer pays for it.
On the last page of the main sales contract it asks what other documents are a part of the offer. They will be: Conventional financing, Property disclosure
Escalation addendum (found in other and you write in escalation.)
This has been another exciting “Training in a Minute“.
Keith