By Walt Harvey (R), ABR, CRS, GRI, SRES, e-PRO, QSC

Looking for a home in Hawaii’s super-heated Seller’s market? An agent in my office reported that she listed a one bedroom townhouse in Hawaii Kai on a Friday for $250,000 and by Monday she had 11 offers and sold the property for "well above" list price! Sound familiar? What can you do? You can make your offer as appealing to the Seller as possible:

A large earnest money deposit! Other than "All Cash", nothing impresses Sellers more than a large deposit.

Reduce the number of contingencies and/or shorten the time to satisfy them. Sellers want certainty that the sale will go through quickly.

Use an "accelerator clause" offering to pay a premium over the highest written offer. This premium is any amount you decide from one dollar, five hundred, a thousand dollars or more over any competing bonafide offer. Consider including a clause to add cash to your down payment if the appraisal comes in low. Is this risky? YES, so set a maximum price and stipulation that you be provided a copy of the offer triggering the "acceleration clause". Consult your Realtor© and attorney and make sure you fully understand the ramifications of using this clause.

If possible, meet the Seller at the Open House or when viewing the property. We’ve seen situations where the Seller accepted a lower priced offer because they liked the Buyer.

Most of all, work closely with your Realtor©, listen to their advice and don’t be discouraged when there are multiple offers on your dream home.

Published in Small Business News, June 2004