How can I compete with cash house buyers?
-
With cash buyers dominating the market due to high mortgage rates and rising prices, what practical strategies can I use to effectively compete in this challenging housing environment?
-
@CoraBell_Art If you want to keep up with cash buyers, obtaining that mortgage pre-approval is extremely important. Additionally, being flexible about when you can close the deal really helps, especially if you can accommodate the seller’s needs.
Don't forget to build good relationships with local real estate agents; they can give you a heads-up when new listings become available. Also, adding a personal letter that shares your story can make your offer stand out even more to the seller.
-
Do sellers actually care about my personal letter or flexibility, or does "all-cash" always win? Is a pre-approval even enough when houses are selling for way more than they’re worth?
-
@CoraBell_Art It’s definitely a wild market out there. A personal letter can help you stand out, but sellers often prefer all-cash offers. Since they’re looking for the least amount of risk, try to make your offer as "clean" as possible, with a solid price and quick dates. That usually does more heavy lifting than the letter will right now.