So before we talk about winning tips I have to give photo credit to Lena Belle Schulta at Living Aloha Farm, and yes proud to say we sold it to them! This is Frank Sinatra the apple tree climbing rooster! Love!
Now on to winning tips..... last week we discussed escalation clauses, what the heck are then and why should I care? :) This week we are going to talk about my TOP THREE TIPS for making your escalation stand out!
1) Make your escalated amount an odd number. Everybody offers $1K, 2K, 5K... Instead of $2000 make it $2617. I always recommend using a significant date like your anniversary or a birthday. (Call me sentimental.)
2) Make it count!! Don't offer to escalate $500 go with $6000, $7000, or more if your comfortable and you really want to make an impact. Like I mentioned before several buyers are using escalations and what it comes down to is typically the amount over the competing offer you are willing to go!
3) Make a plan. Be prepared to included a 22AD (don't worry I will write about this soon. Spoiler alert, this has to do with the appraisal .) You can offer a million dollars to buy a $500,000 property but a smart listing agent knows it won't appraise. Your going to have to be prepared to address it. Stay tuned for an explanation of how to handle this with the 22AD.
So those are my super secret tips to success with escalation clauses. If you are wanting to buy a home in today's market you will need to know how to offer strategically and if you are selling you must know how to calculate and plan ahead for the escalation clauses you will likely receive. Give us a call to help you navigate this extremely competitive market! HAPPY ESCALATING!!