2 Ways to Strengthen Your Phoenix Home Offer without Increasing Price

Multiple Phoenix home offer scenarios requires Buyers to keep on their toes during negotiations

Arizona Phoenix Home Offer
This does not necessarily mean a higher purchase price. In this market, multiple offers on homes and competition among buyers can be common.   There are ways to strengthen your Phoenix home offer other or in addition to raising the price to make your home offer more competitive.

1. Increase your Earnest Money to strengthen your Phoenix home offer

The earnest money is due once you enter a fully ratified agreement with a Seller and usually due within 24 hours or 1 business day. Unless otherwise negotiated the earnest money will remain refundable through your inspection period and if you are financing your Phoenix home purchase through the inspection period in the event the appraised value does not meet or exceed the purchase price and through closing day if for some reason you are unable to qualify for your loan.  That being said a higher earnest money amount can make your offer more desirable to a Seller.   Ask yourself, If everything else remained the same with two competing offers regarding price, loan type, inspection period, etc and you were the Seller would you consider the offer with $10,000 earnest money stronger than the offer with just $1,ooo?

2. Strengthen your Phoenix home offer by reducing inspection period time

This does not meant to waive your inspection period and this blog post does not advocate that you do so.  Each property, each offer, and more importantly each Buyer is different with different comfort zones. Each Phoenix home offer is structured with terms on a case by case basis. With that being said it should be noted that a shortened inspection period time could be appealing to a Seller. This negotiation tactic is most practiced by Phoenix real estate investors that are happy with the condition as-is provided they get their offer accepted at a certain price. Also, this does not leave out the possibility to have a professional inspect the home before you even write your Phoenix home offer!

If you are a cash buyer than you will want to write an offer that can close in 5-7 business days or upon completing your Phoenix home inspection. Of course there are things out of your control such as the HOA taking their full 10 days to get the resale statement to the title company which could make your offer take longer to close but that’s okay. As long as your Phoenix home offer shows you are ready to close quickly with HOA and other parties permitting your offer will be stronger than a cash buyer asking for a full 30 day close for obvious reasons.

A good real estate agent will be savvy with effective negotiation strategies to increase the strength of your Phoenix home offer.  Do you have any negotiation tactics that were successful? Please share your experiences regarding your Phoenix home offer with our readers by posting your comments below.

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