Lauren Bunting Associate Broker

Tips to improve chances in challenging sellers' market

Thursday, February 11, 2021, Lauren Bunting

Lack of inventory, rising prices, multiple offers on new listings—all confirmation that we are indeed in a sellers’ market.

Finding a home in today’s market is challenging for buyers, but there are ways to help improve your chances when the right house does come up. 

Preapproval vs a Prequalification—There are two levels of in qualifying for a loan to make an offer on a house. When it’s a sellers’ market, it’s a good idea to ask your lender to take all of your information up-front so they can provide a full-fledged preapproval letter vs. the more initial prequalification letter. This can tell sellers that you are a safer bet because you’ve turned in all of your documentation needed for the loan process already.

Multiple offers are very common right now. You have to be prepared to submit offers over the asking price and with terms that are more agreeable to the seller then to you, the buyer. Working with an experienced agent that can guide you in this process is key, as there are many ways to help strengthen an offer. Some of the ways include removing contingencies, such as home inspections, or making inspections As-Is, which tell a seller that they will not be required to make any repairs. Increasing good faith deposits, shortening up the settlement timeframes and using price escalation clauses are all other ways to help buyers win in a multiple bid process. 

And, buyers, don’t despair—Dannielle Hale, chief economist for Realtor.com, put it in her recent 2021 forecast that: “The housing market in 2021 will be much more hospitable for buyers as an increased number of existing sellers and ramp-up in new construction restore some bargaining power for buyers, especially in the second half of the year.”

Go Back

Thank you so much for all of your hard work. We are so excited to move into the perfect house for us, and couldn’t have done it without your guidance.

Megan and Brandon Cater

My friend was right, you are the hardest working realtor, bar none. I honestly don’t think that I would have gotten through this house selling process without you. You certainly have done yeomen du...

Brenda Burbage

Lauren made first time homebuying extremely approachable, and took the time to educate me on everything involved in the process.

Amanda Hanke & Keri Swigert

Thank you for all of your hard work and dedication that made this purchase possible. You advocate for your clients and I highly regard you for it. You made it possible for me and my family to achie...

Tom Harutyunyan

Thank you so much for the very wonderful, professional job you did with selling our property. You will always be special to me.

Penny Carley

Lauren’s extensive knowledge of the local real estate market proved to be invaluable during the purchase of our first home. We were beyond impressed by her persistence, dedication and how easy she ...

Allison Shockley & Patrick Molloy

We want to say a sincere “Thank You” for all you've done for us! We know at times the road seemed never ending. Thank you for always staying positive even through our ups and downs of this process....

Mike and Patty Locke

Lauren is very easy to work with. She has helped me sell and buy homes in the area and has always been hard working and professional.

Jennifer K. Leggour


Top
MLS Information

Listing information is provided courtesy of The Coastal Association of REALTORS® which neither guarantees nor is in any way responsible for its accuracy. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of The Coastal Association of REALTORS®. The materials contained within this page may not be reproduced without the express written consent of this broker. The information contained within this page is for personal non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All room dimensions and other measurements are approximate. All information is deemed reliable but is not guarantee. Prospective purchasers should verify the information to their own satisfaction. All data is provided 'AS IS' and with all faults. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Some real estate firms do not participate in Internet Data Exchange® and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Some or all of the listings displayed may not belong to the firm whose web site is being visited. Information deemed reliable but not guaranteed.

Realtor logo   Equal Housing Opportunity logo
Contact Me
  • Atlantic Shores Sotheby's International Realty
  • Lauren Bunting Associate Broker
  • 7510 Coastal Highway | Ocean City, MD 21842
  • Office Phone: 410-524-0919
  • Cell: 410-422-9899
  • Email: lwbunting@comcast.net