How To Get Your Offer Accepted
Make your offer stand out in a competitive market.
How To Get Your Offer Accepted
Buying a home today can be a very competitive and frustrating process. It is common to make 2, 3, even 10, offers on properties only to be outbid by someone else. This is why you need an experienced Buyer’s Agent to help you get your offer accepted. Here are some of the things I do for my buyers to help get their offer accepted.
Provide Detailed Market Analysis
One of the first steps is to determine the best price to offer. Obviously, the higher the better, but no one wants to over pay for a property. It takes a lot of experience to review the comparable properties and sales trends to determine the best price that will be accepted and pass appraisal.
Knowing What the Seller Wants
All sellers have a reason to sell. In addition to the price, knowing why they are selling can help get your offer accepted. Perhaps the seller needs to lease back the property, or they need a quick escrow. There are terms the buyers can include in their offer that will help get the offer accepted.
Waivers and Conditions
In a competitive market, it can be to the buyer’s advantage to waive certain contingencies or agree to pay for some of the seller-related costs. These can be minor concessions that make a big difference.
Use a Local Lender
With everything else being equal, who the buyer chooses to underwrite the loan can have a big impact. The seller needs to feel confident that the buyer is qualified and that the loan will go through. Using a local, well-known mortgage lender can make a difference.
Make the Purchase Agreement Easy for the Seller and Seller’s Agent to Sign
It sounds simple, but most associates don’t do this. My Residential Purchase Agreements include the sellers’ names and the selling agent’s name. My file names are easy to read and understand. These are little details that tell the sellers that this will be an organized and efficient transaction.
Contractual Language
I’m not willing to share these details with competitors who might read this. But, there are ways to write up a Purchase Agreement that gives my buyers an advantage.
Be Nice and Professional
Who represents you in a transaction can make or break your offer. If your associate has a reputation for being rude, hard to deal with or unorganized it could be the one thing that costs you the home of your dreams. When I submit the offer I pitch myself and include links to my online profile and past reviews.
Any of these suggestions above, on their own, will not be a home run, but all of them together can make your offer stand out in a competitive market.
If you are looking for a professional REALTOR® to represent you on the purchase of your home, please contact me.
Ready to Buy or Sell?
Call Eric McCormick, REALTOR® at (559) 304-4637.