Buyer tips in a competitive market

As we see the real estate market continue to stay hot in the Carson Valley, Carson City and Norther Nevada area in general, it can be difficult for buyers to stay optimistic that they’ll find a home. We are seeing many listings receive multiple offers and sometimes well above asking prices. Here’s a few tips for buyers to make sure they are putting their best foot forward when making an offer:

  • Get pre-qualified with a reputable lender before making an offer.
    • Because the market is so competitive, this is usually the first thing a listing agent will ask for. Having a pre-qual letter helps your chances as the seller now knows that you can qualify for the purchase. We know great lenders in Gardnerville/Minden, Carson City and Reno.
  • Write a personal letter to the seller with your offer.
    • This may seem silly to some, but putting a face and story behind your offer can make it personal to the seller. Instead of just looking at names and numbers they now know a little bit about you the buyer and why you want to buy their home. We recommend adding a picture of you, your family and any pets. This has worked numerous times, even when we weren’t the highest offer!
  • Cash isn’t always king.
    • Talk with your agent about how you can sweeten the deal with your offer if you’re going up against a cash offer. Lower the repair allowance, take on some of the seller closing costs and shorter contingency periods are all options. Discuss these with your agent as they can add to your closing costs, but if you love the home they may be worth it!

We use these simple tips all the time for our buyers and they can work! Remember to always discuss with your agent about what’s best for you, they’ll help you navigate the real estate market with multiple offers and prepare you on what you can expect. We’re always here to help if you have any questions, just give us a call! We service the Carson Valley, Carson City, Smith Valley, Dayton, Reno real estate markets.