It’s a home seller’s market. That means you need to be prepared to take all of the EXTRA steps it takes to wow the seller to accept your offer.
What can you do that’s extra when you make your offer? First, think about the major terms of the offer. The offer price, the closing date, whether you’re asking for closing help, what kinds of inspections you’re going to do. Consider doing the very best that you can. Can you offer more than the seller is asking? Do you have your closing money already in hand so you don’t have to ask the seller to pay it? Can you close the loan in 30 days or less? Is it at all possible for you to use cash and then after you buy the house, get the mortgage on it to replace your cash source? Can you go with fewer inspections or can you do as is inspections?
All of these are things that you can talk with your buyer’s agent about and then think about all the things that don’t impact you money-wise. For example, can you make a larger earnest money deposit so that your offer looks strong. What else can you do? Can you have your agent speak with the listing agent to find out is there’s some non-financial aspect of the offer that would appeal to the sellers? Do they need to rent the house back for a period of time? Do they need you to take the house with the furniture in it that they don’t want?
What are some things you can do to ease the path for the seller so that your offer looks more attractive? Get out your thinking caps as your elementary teachers would say, make a list of all the ways that you could improve your offer and give the sellers something extra. That may be just the thing that makes your offer rise to the top of the multi-offer scenario.
We hope you find this helpful. If you need help with anything from us, please feel free to reach out