Barry Kunselman | 303.887.0588 | Contact Barry
February market stats for Denver continue to reflect low inventory and swift sales. We are working extremely hard to get our buyers under contract and one way a buyer can get a home is to put in a backup offer when the initial offer is not accepted.
Feel free to watch the full message above, or use these timestamps that will direct you to various points in the video:
00:00 - Introduction
00:20 - getting ready to give bad news
00:29 - back of offer position
00:44 - the market's absolutely crazy right now
00:57 - buyers are getting cold feet
01:08 - get in a backup offer position
What’s the best backup offer strategy?
- Make sure you, the buyer, are serious about closing
- Make sure you have sufficient funds , a backup offer still requires an earnest money deposit
- Appeal to the seller with a strong offer price
- If needed, find out why the first offer didn’t work out and appeal to it
- Consider including a contingency that allows you to walk away if you find another home
I always make sure my clients understand the costs, risks and responsibilities of provisions and clauses that are being added to a contract. This can be as simple as asking them to confirm their understanding via text or email.
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