Today I have a good story about how I helped some buyers get a home for less than what they were willing to pay.
This particular couple needed a home where they could have a shorter commute to work, and after looking at about 20 homes, we found one that they fell in love with. Because they wanted it so badly, we crafted an offer that was above full price and also put in an escalation clause. “An escalation clause will surely strengthen your offer.” An escalation clause means that we were willing to pay slightly above everyone else’s offer, up to a certain amount.
This made our offer seem very strong and very urgent, and it ended up working! Early the next morning the sellers told us that they would take our offer without even waiting to see what others would offer. They named us a price, which was actually a bit below what we were willing to pay in the escalation clause, and we matched the offer.
This just goes to show how important it is to craft a good offer in a competitive market, such as the one that we have here in Puget Sound.