We’ve all seen how quickly houses are disappearing these days. When you find a home you are interested in you need to be prepared to make a quick offer. Having a plan is important to giving you a fighting chance. An experienced agent can help you look at the risks and benefits and prepare an offer that will be competitive. Below are several things you can think about and consider when writing an offer.

1. Show that you have reliable financing

A seller and their agent want to ensure that the deal will go through. They don’t want to waste time on a buyer whose mortgage application is going to fall apart. Having a pre-approval letter is one of the best ways you can show your seriousness about purchasing a home. You’ve gone through the time and effort of finding a reliable lender that has given a pre-stamp of approval on your loan. Some lenders are more reputable than others or specialize in specific types of loans so whatever your situation is, make sure you’ve done your homework and secured pre-approval from a reputable lender that a seller agent will be happy to work with.

2. Prepare to put down a decent deposit

Having a decent deposit shows the seller you are serious about buying. It is a bit risky because you won’t get earnest money back if things fall through, but it speaks volumes to the seller and their agent that you confident of your ability to secure a loan and prepared to follow through with your intention of buying the property.

3. Don’t ask for too many contingencies

A buyer often wants to put a lot of contingencies in place, and understandably so. But if you have too many contingencies listed in your offer, a seller may be more inclined to pass you by and choose someone else. Some of the contingencies often put into an offer are an appraisal, a home inspection, financing, and offer based on the buyer’s home selling. These are all important and legitimate contingencies to include, however, a seller may be more inclined to accept an offer from someone that has fewer or no contingencies. There are obviously risks to a no contingency offer, but depending on the specific home, we can help you evaluate the risks/benefits involved prior to submitting an offer.

4. Offer flexible closing date and lease back options

Everyone has different reasons for selling their homes and sometimes money may not be their primary motivation for accepting an offer. For example, someone may want to sell their home but take their time looking for a new home, so having a lease back option on the table may be appealing to them. Or maybe they need flexibility with the new home they are buying so a flexible closing date would be preferable. You never know what the seller’s situation is so talking with the seller agent and finding out their preferences can help you make an offer that appeals to their specific situation.

5. Work with an experienced buyer’s agent

Today the real estate market is extremely competitive, and it greatly benefits you to have a professional real estate agent on your side to help you navigate the home buying process and lower your risk of unexpected surprises. An agent that will be your advocate and has your best interest in mind can help you prepare an offer letter that will appeal to the seller and their agent. A seller’s agent appreciates working with a kind, respectful and knowledgeable agent that they can trust will show up on closing day with everything in place and all the correct paperwork signed and ready to go.

If you are looking to buy a house and you want to make sure you have a strong chance to be considered, please reach out and schedule a consultation. We’d love to lend our expertise and be your advocate to help write a winning offer that will give you the best chance at buying that home of your dreams.

https://www.sfgate.com/realestate/article/Sound-Off-Some-pros-and-cons-of-contingencies-11009978.php

https://www.readynest.com/homebuyer-stories/first-time-homebuyers-secret-weapon-flexible-closing-date