r/RealEstate • u/ElCochinoFeo • 6h ago
San Francisco Realtors and Homeowners- What is the best approach to have a good shot at winning a bid on a house?
I know the SF market is hot, so you don't have to enlighten me on the obvious. But what are tactics to make sellers seriously put my offer to the top of their list?
My spouse and I are moving there for a job. The employment contract includes things like realtor fees and closing costs with us able to select from a list of realtors. We are still a couple of weeks out from pulling the trigger on selecting the realtor.
We're selling our current house and if the house isn't sold by the time we are ready to put in a bid, we have enough from our opening deposit from our brokerage account (no withdrawal fee) to pay in cash, or at least put down a large down payment (50%).
We have very good credit (at the cusp of excellent) and are working on finding the right lender, then getting a pre-approval letter from them.
I've been keeping my eyes on houses that fit our criteria and seeing what they sell for. On average houses we like go pending in about 18 days and sell between 30%-50% over list price, depending on location and house condition.
We're fairly comfortable to make strong bids, but what are current market techniques to be sure we get the house we want? Are people waiving contingencies, appraisals, or inspection?
We'll ask all these things to our realtor when we select them, I just wanted to get some insight from this group in the meantime. Thanks.