If you’ve been looking for a new home, finding the right one is exciting. Now that it’s time to write the offer, however, you might be wondering what you can do to make sure the seller is impressed with your offer. Of course the easiest way is to offer cash significantly over asking price, but fortunately in the real world there are still great ways to ensure the seller takes your offer seriously and improve your chance of acceptance.
Top 5 Ways to Make Your Offer Stand Out
- Pre-ApprovalLetter–Apre-approvalmeansyourlenderhasdonetheirduediligence and has all the documentation needed to close the loan.
- ContingencyRemovals–Certainlyyoushouldnotremoveanycontingencieswhich could put you at risk, but the contract is full of some which you can safely remove. Consider removing or shortening contingency periods to provide peace of mind to the sellers.
- SellYourHomeFirst–Oneredflagisthebuyerwhoneedstoselltheirownhome before closing. Sell before you write the offer whenever possible.
- EscrowPeriod–Workingwithyouragent,offeralongerorshorterescrowperiodbased on the seller’s moving needs.
- Win-Win–Showthesellerthatyouwanttocreateawin-win.Negotiationsarepartofa home sale, but avoid seeming unreasonable or demanding.
While price is always important to the home seller, there are other valuable concessions or offers which can mean as much. Work with an agent who views the transaction as a win for all sides and learn what’s important to the seller before you write the offer. By accommodating their needs as much as possible, you are more likely to have your offer accepted.