Buying A Home In San Diego

All offers are not created equal. There are major differences between all cash, 100% financing and contingent offers. The primary factors involved in every offer are:

• Offering Price
• Down Payment
• Financing
• Escrow Period
• Contingencies
• Market Competition

Remember that a potential buyer must consider all factors before making an offer. Let's take a look at the factors above:

• Offering Price-obviously a seller wants the maximum price possible for their property. If the terms of your offer are strong (all cash/short escrow) you can sometimes get a deal below the offering price.

• Down Payment-the larger the down payment, the stronger the offer. A large down payment shows that you are a serious buyer and not someone putting out offers all over town.

• Financing-the larger amount you finance, the weaker your offer is to the seller. There are numerous things that can cause financing to fall through at any point in the process. If you're considering financing over 90% of the purchase price, it is advisable to offer more than the list price.

• Escrow Period-shorter escrow periods are usually more attractive to sellers.

• Contingencies-sellers are wary of accepting an offer that comes with any contingencies.

• Market Competition-the more competitive the neighborhood, the more competitive you must be with your offer.