How do you beat out the other bidders? Follow these tips to get your offer in the game.
Listen to your realtor.
If there are more than 3 offers, start higher than the list price so you come out of the gate swinging with a serious offer. Otherwise, a lower offers states "we are going to try and get away with a low offer but if someone else says they will pay more, then we will escalate.
Add an escalation clause. This clause says you will best any competing offer by the amount you choose up to a max amount. In other words, we agree to best any competing offer by $3,000 up to $489,000.
Write a letter to the seller, keep it basic about the house, you and the neighborhood. Be careful not to violate fair housing laws/language.
Do a pre-inspection so your offer is solid with one less contingency.
Offer to pay the seller's closing costs. In Washington State, this may include excise tax (1.78%), escrow, and title. If you are getting a loan, make sure this is OK with your lender.
Have your lender call the listing agent to reinforce your strong financing.
Show the seller you have the money set aside to bridge the gap between a low appraisal and the purchase price.
More tips from realtor.com:
Give the seller a non-refundbale earnest money and release it to the seller as soon as escrow clears the check. Having cash in hand after an expensive move may be of great benefit to the seller.