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What You Need to Know About Buying and Selling Orange County Real Estate in a Competitive Market

Whether you’re the buyer in a real estate deal, and your offer is on the table, or the seller and a bidding war has started, you want to be the one that wins out. Sellers need to put in the work and market the property to catch buyers’ interest and, once doing so, remain reasonable during negotiations.

Tensions can run high during fierce competition, so it’s helpful to have a guideline to keep your deal on track. Here’s what you need to know about buying and selling Orange County real estate in a competitive market.

Financing

When you’re buying Orange County real estate in a competitive market, a preapproval letter and a substantial down are both confidence builders in your offer.

Selling in a competitive market can be overwhelming, so it’s best to sort out the offers into two stacks. First, those with financing in place go in the keep pile; next, you’ll want to sort out those with the best debt-to-income ratios. Naturally, a cash buyer is preferred because your concerns about financing approval go out the window. A large down as proof of intention gets the offer a gold star.

Offers

Buying Orange County real estate in a competitive market When you place your bid, don’t play with numbers, bring your best offer from the start and skip the contingencies. Whatever you do, set an upper limit on your bid, and don’t let emotions gain the upper hand and find you’ve overpaid for the property in a bidding war; buyer’s remorse sets in quickly once the passion of the moment wanes. As a personal touch of appeal, submit a personal letter with your offer describing how you’d value their property and your appreciation.

Selling in a competitive market requires that you remain calm and carefully consider all of the factors that make an offer the best. In addition, you must know the property’s actual market value so that you have realistic expectations. Finally, avoid those offers loaded with contingencies. Remember, you’re locked in once you’ve accepted an offer, but you can still look at other offers; if the deal you have falls through, you’ll have a backup.

Timeline

When you’re buying Orange County real estate in a competitive market, consider being extremely flexible with the closing timeline. Relieving the sellers’ stress of having to move twice because their new home won’t be ready in the typical 30-day range could go a long way to put your offer at the front of the line.

Selling in a competitive market may provide you the opportunity to negotiate a rent-back agreement with your buyer. This agreement will give you extra time to remain in the home after closing if the new home you’re building has setbacks in the finish date or another matter slowed the ability for you to move. 

Buying? If you haven’t found your next investment property in Orange County, at H&M Realty Group, we have a steady inventory of the best investment properties available. 

Selling? H&M Realty Group pays cash for your home as-is, with closing in a few days or whenever you’re ready. After detailing what you could sell for on the market vs. our offer, H&M Realty Group will make an offer you’ll agree is more than fair,

H&M Realty Group professionals make buying and selling Orange County real estate in a competitive market easy. H&M Realty Group understands what it takes to stay on top of the competition, with the experience to help you make the right move at the right time at a fast pace. We take the time to listen to your concerns and answer any of your questions here at H&M Realty Group, with no obligation. Contact H&M Realty Group at 949-625-4533 today!

Joe

Broker/Realtor/Investor/Mentor (41 years experience) Specialties: Buyer's Agent, Listing Agent, Foreclosure, Short-Sale, Property Management, Landlord I'm a Full Time Real Estate Professional, house flipper and mentor to many of my clients. I am here to help you get top dollar for your home or get you the best price for a home that you are going to live in. I have over 40 years of real estate experience for you to draw on and actively list and sell over 20 homes a year. I have sold over 600+ homes in the last ten years alone. I am a very skillful negotiator and will work diligently to help you realize the best possible price when buying or selling your home. With my Exclusive Home Acquisition & Sales System, I can find the Right Home for You! I have access to homes no other Realtor will show you. I can show you how to save an average of $10,000.00 on the purchase price. We will find a home that fits your needs, in a neighborhood that suits your style. If you are selling your home then I can bring all the professionals to you. I always include professional photos in ALL my listings. I have contractors standing by to assist with those upgrades if needed. I can also quickly get you ALL CASH offers for your home if you desire. My marketing surpasses all other agents. It begins with extensive internet advertising to hundreds of websites throughout the world. I do direct mail marketing for you home and also knock on doors in your neighborhood when I am holding an open house. I hold you home open to expose it to as many buyers as possible. My Exclusive program is designed to sell your home for Top Dollar in Any market. I am an experienced flipper here in Orange County and therefore can offer you my over 40 years of real estate experience. The information is available to you at no charge! If you like what you see, please call me and setup Your Free Consultation.

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