After all the time you have spent searching for your perfect home you are now ready to make an offer. Congratulations! That is a HUGE step toward getting your dream home. However, in a lot of situations even a full offer may not be enough to being accepted. When there are more buyers than sellers competition is high and so are the prices. Here are some great tips you can use to make sure your offer comes out on top.
- Work Fast – This one is kind of a no brainer. While you should never jump into a purchase as large as a home be sure to do your research and know what you are looking for as well as what you’ll be able to afford. Do not wait a week after you see a house you like online to contact your realtor, somebody could have already seen the home and put in an offer. If you decide you like it, ask to see it and make an offer as soon as you feel comfortable doing so.
- Make your offer simple – Remove any seller concessions or contingencies you have regarding a sale of another property. This simplifies it for the seller and gives them less to have to figure out.
- Don’t ask for Personal Property – Despite how much you love the curtains or that grill on the patio it weakens your offer to ask for personal property. If the seller has two similar offers, one asking for items and the other not they are much more likely to remember how much everything will cost to replace and be hesitant to go with an offer asking for items.
- Offer Above Asking – If you really love the house and know there is a potential for other offers ask above what the price is. Your offer may very well have to beat out other offers. Instead of putting in an offer either lower or at asking, think of how much you will realistically be willing to spend and ask your realtor for advice regarding comparable houses in the area. That may be able to give you a much better number than guessing.
- Write a Letter – Think of the nostalgia you feel when selling your home. They are feeling the same thing. While it may not work in every situation a letter to the seller can often persuade them to go with your offer, even if it is not the highest. Let them know who you are, your plans for the house, or even a photo. If you see your 2 kids playing in their huge back yard then include that, it may remind them of all the times their kids did the same.
- Offer All Cash – While I understand this may not be a realistic option for some people cash often persuades sellers to go with an offer. They know the buyer will be able to follow through and is much less risky for sellers.
- Close Faster – In many situations the faster the close the better it is for the seller. This is especially true if they have already moved and are paying two mortgages, utility bills, etc. on two houses. If you can shorten the closing date then in this case it is much more appealing.
- Include a Pre-Approval Letter – Be proactive and get a letter from your bank stating what you are able to have. While you are able to tell the seller you qualify them, reading it is more substantial of a statement.
- Pay the Sellers Closing Costs – This is an expensive part of selling a home, so if you are able this is something to consider doing.
- Offer Again – Just because your original offer was not accepted does not mean there isn’t a chance you will get the property. Be able to come back with a number and have your realtor submit another offer as soon as possible.
While buying a home is never an easy process by using some of these tips you are guaranteed to be more successful. With enough persistence, luck and know how you will be in your dream home before you know it.
I am passionate about Real Estate and eager to answer all of your real estate questions! Text or Call me at 360-880-2356 or email me directly to ask about Buying, Selling or Investing in today's Real Estate Market - serving Lewis County & Thurston County, WA.
Certified Residential Specialist | Real
Mountain Valley Real Estate