How To Win In a Competitive Market - Buyers Guide

It is no secret that the beginning of 2025 has seen a hot real estate market - that is, especially if you are a seller. In this hot real estate market, where multiple buyers compete for the same property, securing an accepted offer can feel like an uphill battle.  So what can you do to get your offer accepted? The good news is that with the right strategy and approach, you can increase your chances of standing out and winning the home of your dreams. Here are key steps you can take to make your offer more attractive to sellers.

1. Get Pre-Approved for a Mortgage

A pre-approval letter from a reputable lender shows sellers that you are financially qualified and ready to buy. In a competitive market, a pre-qualification isn’t enough—you need a full pre-approval to demonstrate your serious intent and ability to close the deal.

2. Make a Strong Offer

In a seller’s market, lowball offers won’t cut it. Work with your real estate agent to determine a competitive yet reasonable price based on recent sales. Consider offering above the asking price if comparable homes are selling for more.

3. Limit Contingencies

Contingencies protect buyers but can make an offer less appealing to sellers. If possible, minimize contingencies such as home sale, appraisal, or excessive inspection requests. One creative waiver is limiting your inspection such that you won't ask for repairs or credits for items under a certain dollar value. This allows sellers to feel more at ease, while also ensuring that buyers have comfort knowing big-ticket items will still be covered. However, always ensure you are comfortable with the level of risk before waiving any protections.

4. Offer a Larger Earnest Money Deposit

A bigger earnest money deposit signals to the seller that you are serious and financially capable. If the market is highly competitive, consider putting down 3-5% of the purchase price rather than the standard 1-2%.

5. Be Flexible with Closing Terms

Sellers may have specific preferences regarding the closing date. Offering flexibility—whether they need a quick close or extra time to move—can make your offer more appealing.

6. Include an Escalation Clause

An escalation clause states that you’re willing to increase your offer up to a certain amount if competing offers come in. This can help ensure you remain competitive without immediately overpaying.

7. Make a Cash Offer (If Possible)

Cash offers are highly attractive to sellers because they remove the uncertainty of financing. If you can’t pay all cash, consider increasing your down payment to make your offer stronger.

8. Write a Personal Letter to the Seller

In some cases, a heartfelt letter explaining why you love the home can create an emotional connection with the seller. While not always effective, in a tight race, it could give you an edge.

9. Work with an Experienced Real Estate Agent

Having a skilled real estate agent on your side is crucial. They will guide you through the process, provide valuable market insights, and help craft a competitive offer tailored to the seller’s priorities.

10. Act Quickly and Decisively

Homes in competitive markets move fast. Be ready to tour homes as soon as they hit the market and submit an offer promptly if you find a property you love.

By implementing these strategies, you can position yourself as a strong buyer and improve your chances of getting your offer accepted. In a fast-moving real estate market, preparation and decisiveness are key to success.

Our lawyers at Gotlib Law, with over 45 years of experience are well-equipped to ensure you get the home of your dreams. Reach out for a free consultation today at 732-261-4114.