In a competitive market like the Washington DC area, sometimes you have to think outside the box. That’s exactly how Melody helped these buyers go under contract with a hot property immediately after it came on the market…. and with no bidding war!
How did they do it? With a lot of prep work and an “exploding offer” that the seller couldn’t turn down. An exploding offer is one that’s retracted if not accepted within a short period of time. It can be risky, but it’s also a great way to avoid competition in a hot market like DC.
Melody and the clients had their eye on this home for weeks while it was still in “coming soon” status. On the morning it went active, they were one of the first showings— an appointment Melody booked far in advance to secure.
Her clients felt sure it was the one, so she had the offer drafted even before the showing. This enabled them to submit the offer by early afternoon. While it was a strong offer, it was also one that could have been beat had it gone to a bidding war… and this house definitely would have!
The seller recognized the benefits of the offer, appreciated its swiftness, and accepted the next morning, despite having another 25 showings scheduled for that day.
The clients were ecstatic to be able to close on the home and avoid the additional stress, headache, or costs of a bidding war that would have driven up the price. Exploding offers like this don’t always work, but there are times when it makes sense to try and this was one of them!