The Real Estate Market is Hot Right Now!

The real estate market in South Florida remains hot with multiple offers over-asking for most properties. Since I represent both Sellers and Buyers, I understand what it takes to get an offer accepted by a Seller.

Sellers & Buyers in South Florida

From a Seller’s perspective, a strong cash offer is usually the most desirable. From a Buyer’s perspective, persistence and professionalism is key; staying on top of new listings, following the instructions for submitting an offer, communicating effectively with the Seller’s Agent and presenting either a cash offer or if a financed purchase then the offer should include a substantial deposit, short inspection period and if possible no appraisal contingency.

No Appraisal Contingency

No appraisal contingency means that if the appraised value of the home is less than the agreed-upon purchase price, the Buyer makes up the difference with cash in order to close the transaction. I also see escalation clauses in contracts but in my experience, they do not motivate a Seller to automatically accept an offer that has an escalation clause.

A Buyer might use this strategy when competing in a multiple offer scenario but it is not always effective. Buyers use escalation clauses because they do not want to overpay for a property but it is my experience that a Seller would prefer that a Buyer offer their highest price initially, without the escalation clause.

Read my article on a few tips on getting your home ready to sell.