With interest rates at historic lows and more of us working from home, an unprecedented number of buyers have entered Denver’s real estate market.  With the wrong representation, being a buyer can be frustrating. The good news is that all offers, and all brokers are not created equal.

If you are a buyer, consider these tips when writing offers:

1. Who you use matter in lending and buying. 
Selling agents look at three things when considering offers: Terms (discussed later), Lenders, and Buyer’s Brokers.  You should choose a lender who can get your loan package fully through underwriting so that you can offer a two week close. You also need a serious broker who has the experience to get the offer to the finish line. Selling agents check their buyer’s broker’s profiles and ask, how many deals has this person done? Check your broker’s history at Homesnap.com. The selling agent is looking for the best “package” when accepting an offer so it’s important to make sure you have the best presentation when submitting an offer. 

2. Terms matter
There are so many “menu” items that can be written into your contract to make it stand out from appraisal-gap coverage, limited inspection, hard earnest money, and escalation clauses. These are just a few.  At The Joseph-Haarer Group, we carefully guide our buyers through each of those menu items to make sure they are prepared when we write their offer. We tell our buyers that in highly competitive neighborhoods, they may be up against 15 other offers. One-third of those offers will have all of those menu items. If you aren’t prepared to include them, your offer will go to the bottom of the pile.  Your broker should review all of their offer strategies with you at your first meeting. 

3. No pain, no gain
It’s important to understand that while the perception is that you may overpay for a home now due to a surging market, you really can’t overpay. Remember, market forces determine what a home is worth and so if there are 10 offers, the home is likely worth what you will pay for it. If the appraisal comes in low, the seller will likely come down in price. If the appraisal comes in at value, you’ve bought a great home and now it’s time to enjoy the appreciation.  Denver’s appreciation rate is so high you can make no better investment. 

4. Consider the sellers needs
Most sellers have certain motivators and it’s imperative you meet those to have the offer considered. You broker should be in constant communication with the seller on these items.

In 2021, the Joseph-Haarer Group had incredible success with over 90% of our buyers winning multiple offer situations. Our best statistic: One of our seller’s beat 16 other offers. With the right representation, you can be successful in this market. Reach out to our team today and let’s get to work getting you into your new home.