Getting Your Offer Accepted
By Michael Sands, Senior Agent
In today’s Seller’s Market, getting your offer accepted can be more difficult than ever. Here are a few things you can do to improve your chances with the impending competition.
Do your homework on all levels:
- Ensure that you and your agent have complete, recent, and accurate knowledge of the recent comparable sales relative to your new home.
- Thoroughly investigate what the seller expects beyond price and be accommodating to the highest degree (e.g. do they need a rent back or long escrow period?).
- Offer a respectable good faith deposit of at least 3% along with your pre-approval letter from your lender.
- Make certain that your pre-approval status at the bank is current and will cover this purchase. Also, ensure your lender can provide you with timely service, appraisals, and reports.
- Establish an escrow officer ahead of time, one with good track record and proven sense of urgency.
- Pre-arrange a home inspection if this is a contingency you cannot waive. Ensure an immediate review and report can be delivered.
- Shorten the removal period for any contin gencies in your offer (the fewer contingencies the better).
Get personal with your agent and the seller:
- Insist that your representative prepare a detailed presentation for your offer, and request the offer be delivered and discussed in person. Sell not only your financial qualifications but also your personal attributes.
- Create your own introduction letter aimed at the seller’s emotions and pride to help connect a real person to the paper offer.
With the competition in today’s seller’s market, you may be pleasantly surprised to find what a little research and personal enhancement can do for your offer. Whether you are in the market to buy or sell, have the right real estate professional on your side. Please call today for assistance in maximizing your time and money.
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