How to Build an Interest Rate Cap into Your Offers

          

30 years ago, when I entered the real estate business, we used to see a clause, and I used to use this all the time myself, that we would build into offers.

And the clause said something to this effect:

"This offer is subject to the buyer qualifying for a loan and the home qualifying for a loan as noted in the offer terms. And you could say the loan type (conventional, FHA VA, whatever you're gonna do there) at an interest rate not to exceed X."

And that was the key part of that language. And I'm not suggesting you use that language exactly, that's something for you to talk about with your broker. But we would just have an interest rate cap built into our offers.

Now, some people would say, Well Jim, when I have my buyers get qualified, they generally lock themselves in. Not every buyer locks themselves in. A lot of buyers like to try to gamble and float it.

So when we build that language in, it gives the buyer an...

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How to Win in a Multiple Offer Situation

As the market continues to strengthen we are seeing more buyers enter the market but sellers are slow to return. This means more buyers are competing for fewer listings which often equals multiple offer situations. How can you help you buyers win in a multiple offer situation?
 
Watch this quick video for several tips on helping your clients get into a position to receive an acceptance.  You deserve more accepted offers, more closings, and more clients who are raving fans of your negotiation skills! 
 

 
Ready to upgrade your real estate career with a system that you can plug into today that offers massive value and is led by one of the most successful Brokers in the country?
 
 

 

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