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10 tips buying in a multi-offer market

1. Work with an agent with multi-offer experience.
2. Get pre-approved for a mortgage so the seller knows you’re financially reliable.
3. Understand the market so you can offer an attractive price that’s also fair.
4. Exceed the list price in your offerMost sellers take the highest offer.
5. Drop unnecessary contingencies to make the process easier for the seller.
6. Be flexible on the closing date, again to make the process easier for the seller.
7. Offer to pay earnest money so the seller knows you are truly serious. This is money the seller keeps if the deal falls through due to something outside the contingencies, such as a buyer backing out.
8. Provide additional financial information to prove your ability to finance the home.
9. Write a personal letter to the seller.
10. Negotiate lightly. Don’t put yourself out of a deal by requesting tedious home improvements or drawing a hard line.
For more advice, check out the list of articles at the bottom of this page.

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