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Tips for the MA market (South of Boston)

My wife and I are looking to move from Cape Cod to the South Shore to shorten her commute. We're looking for a 3 bed / 2 bath, preferably with at least 0.25 acres. So far, we've put in three offers and lost out on all three houses.

  1. Offered $10k over asking with an escalation clause to $20k over asking (with a home sale contingency, appraisal contingency, and inspection contingency). The successful offer offered less $ but with no contingencies

  2. Offered asking price with same contingencies as above. Successful buyer came in with a cash offer ~$30k over asking.

  3. Offered $25k over asking (with a home sale contingency and info only inspection) and was told we were the fifth highest offer and could counter if we would drop the home sale contingency.

We need to sell our house (3 bed / 2 bath in a neighborhood of similar homes on Cape Cod) in order to have the cash for a down payment. Three similar homes in the neighborhood sold recently in less than a week. Putting down earnest money ~$25k without a home sale contingency seems like a lot to put at risk.

I'm feeling stuck like we don't have a lot of options and can't really make better offers without putting a lot of money at risk or really overpaying for something. Any tricks for making offers more competitive?

submitted by /u/badinplaid19
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/sc9t06/tips_for_the_ma_market_south_of_boston/
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