How Can I Make My Offer More Competitive - A Larger Earnest Money Deposit

3 years ago
32
How to get my offer accepted by a seller How can I make my offer more competitive Deposit Buying a house Buying house how much deposit How much deposit when buying a house buying a house how much deposit do I need How much deposit for house purchase Buying a home in a seller’s market Top Real Estate Agent in Massachusetts Best Real Estate Agent in Massachusetts Best Realtor in Massachusetts

How can I Make My Offer More Competitive? A buyer increasing their deposit can help make their offer standout and make it more competitive.

The larger the deposit, the bigger the signal to the seller that the buyer is committed in getting to the closing table. This helps ensure that the buyer will perform as they have a larger amount of money holding their feet to the fire.

It has become standard practice in Massachusetts for a deposit to be 5% of the purchase price. This is however 100% negotiable. If you are a buyer putting 3% down, then obviously you will not be putting down 5% or more in deposits!

The Buyer Power Checklist breaks down an offer buying power into three different categories. A buyer's offer will either be in the 'Low', 'Average' or 'High' Buying Power category.

https://www.boston2.com/blog/how-can-i-make-my-offer-more-competitive-the-buying-power-checklist/

Jeffrey Chubb | Chubb Homes Team | 617-480-2600 | Jeff@Boston2.com | www.Boston2.com | Brokered by eXp Realty

Loading comments...