The Key to Winning Bidding Wars in Silicon Valley


Manage episode 152666762 series 1067341
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The real estate market in Silicon Valley has gotten extremely competitive for home buyers. In order to craft a winning offer on your dream home, you need to keep in mind a few different things while writing your offer.

  1. Before anything else, you will need to get a pre-approval for a mortgage loan. Most sellers won’t even look at your offer if you have not talked to a lender and gotten pre-approved. You need to prove that you can afford the home before you make an offer to the seller. You’ll also want to show proof of funds for the down payment.
  2. Writing a personalized letter to the seller is always helpful. You can include a picture of yourself and your family, and this can help put a face to your name instead of just a number. This can help to tug on the heartstrings of the seller, and sometimes this is the extra boost you need to push your offer to the top. Within the letter, tell them what you love about the home and neighborhood – especially any remodeling or upgrades the seller has done. Focus on how happy it will make your family.
  3. Make sure your actual offer is written properly. Consult with your Realtor in order to fashion an offer with a proper price and terms for the sale to occur. It’s important to have a professional that knows the local market to craft your offer and ensure you have a “complete package” before you submit it.

When all's said and done, you need to figure out what the seller wants. Have your Realtor consult with the listing agent so that you can tailor-tune your offer to match the exact needs of the seller. Some people want a high sale price, and others might just want a shorter closing period for the sake of convenience.

Tailor-tune your offer to meet the needs of the seller.

If you need help writing an offer or navigating a tough market in Silicon Valley, please don’t hesitate to reach out to us!