Making a competitive offer is crucial in a hot real estate market. Start by researching comparable sales in the area to determine a fair price. Work with your real estate agent to craft an offer that reflects the home’s value while remaining within your budget.
Consider including an escalation clause, which allows your offer to automatically increase if competing bids are received. Additionally, waiving certain contingencies, such as the home inspection, can make your offer more attractive to sellers.
However, weigh the risks of such decisions carefully. A well-structured offer can set you apart from other buyers and increase your chances of securing your dream home.