Boston luxury condo buyers are always asking me for ways to improve their offers. The easy answer is money –most sellers would agree that more money would make for a stronger offer. Aside from price, there are two other things we can strategically work into the offer that will not have any affect on you. This strategy could improve your position and may allow you to pay a lower price because there are terms that sellers actually appreciate.
- Shorter inspection. In a typical Boston luxury condos purchase agreement allows for a 17-day inspection period. The truth is that within 24-48 hours of making a deal, we can have the inspector at the property and receive the results within 24 hours after that. This allows you to be fully negotiated on repairs within just a few days. If you can write your inspection contingency at 2-3 days as opposed to the traditional 17, you’re showing the seller that you’re a strong, confident buyer and that you’re going to close. If you’re in a multiple-offer scenario, the seller will lean towards you because you’re showing more effort. Also, this won’t affect you because a good agent will know how to protect you.
- Become pre-approved. This is something that should be done before you even begin looking at Boston luxury condos for sale. If you are not pre-approved, how is the seller to know if you can follow through on your offer? Put yourself in the shoes of the seller – if a buyer is saying they will buy a condominium under certain terms, you want proof they can follow through. A strong pre-approval letter almost turns you into a cash buyer and your agent should be able to position you that way. From there, all you need is to agree on price and close.
Thanks and have a great day.