![]() “It helps make the case that you are serious about the property,” Malin says. Maybe you want to agree to waive a mortgage contingency, pay closing costs, or offer flexible moving dates.īeing open to negotiation is one of the best things you can do to improve the odds of your offer being accepted, Malin notes. But you can also make yourself an attractive buyer by presenting convenient terms to the seller. ![]() If-and only if-you’re financially comfortable, you could consider offering more than the asking price. This doesn’t necessarily mean putting in a higher bid-although that can certainly help. Try to beat the other buyer’s deal by negotiating with the sellers Become an expert on the property, and you just might be the seller’s ideal backup plan. You could think of it as getting a head start on your research in case the initial deal does fall through. You may never need the intel, but who knows when details might help sway the odds in your favor. Google the address, check out property tax records, or go on PropertyShark and see what comes up. Try driving through the neighborhood to learn as much about the home and the community as possible. “If the agreed-upon deadline to close the sale passes, it’s time to take action-and fast.” “You need to get on the listing agent’s radar screen-and stay there,” Malin says. You can use those to your advantage in your own bid. Try to suss out how many other offers there are on the home and whether there are any potential concerns about the initial bid. The agent might have some insight on parts of the contract that aren’t firm. While you’re at it, call the listing agent. “Remember: Until the ink dries on the contract, no transaction is legally binding,” Malin says. You’ll want to be first in line in case any issues crop up with the pending home sale (like failed financing, inspections, or other unmet contingencies that can snag a real estate transaction). Make sure your agent knows how in love you are with the home. “Many seller’s agents will continue to show the property to potential buyers up until the very last minute, in hopes of obtaining an even more compelling offer,” says Gary Malin, president of Citi Habitats in New York City. Think you’re wasting your real estate agent’s time when asking about a sale pending home? Think again. Make your interest on a sale pending home known Here are four ways you can improve your odds on a listing that’s pending sale, swoop in, and steal that home out from under someone else. ![]() Many sellers will want to hold out for the best bid-and you could be the buyer with the best bid. In fact, there’s more wiggle room than you might expect, particularly if you’re looking in a market that’s competitive. Until the contract is complete and the sale is a done deal, there’s still an opportunity to land that magical, marvelous dream home. “‘Pending’ does not mean ‘sold,’” says Joy Triglia, broker and CEO of Century 21 Universal Luxury in Fort Lauderdale, FL. But there’s still a chance the home can be up for grabs again-say, if the home inspection doesn’t check out or the buyer can’t pull together the financing. ![]() (This is different from a contingent sale.) A property is placed in pending status the minute a contract is executed. What does “pending” mean in real estate?Ī pending sale status means the seller has accepted an offer from a hopeful buyer, but the deal hasn’t closed yet. The short answer: If a home you love is pending sale, don’t give up hope. There’s just one problem: It’s sale pending.īut what does “pending” mean in real estate? Are you too late, or do you still have a shot? Ah, one of real estate’s most enduring questions. So you’re perusing listings and finally you find it: Staring back at you from your laptop screen is the perfect house that’s in the right location, has the amenities you’re looking for, and still, somehow, fits in your budget. ![]()
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