|
In general the easier it is for the seller to accept an offer the more it stands out against other offers. Surely the higher your price the more attractive your offer can be. But given equal price there are several things you can do to give your offer a better chance of acceptance.
Get pre-approved for a mortgage of the size required for buy the subject property. This will allow you to waive the financing contingency. You still don’t have to buy the home, there are other ways of getting out of the deal if you change your mind for whatever reason.
If you are a cash buyer consider submitting a letter from your bank verifying the available funds necessary to buy this home for cash. The seller might prefer a lower cash offer versus a higher 90% loan offer. This can mean not only a better chance of acceptance for your offer it might also save you tens of thousands of Dollars.
Do a pre-inspection on a home. This might not always be possible if time is of the essence. But if one can perform a pre-inspection of the home and it turns out that there are no or no major faults, you are in a position to waive the inspection contingency. You are basically telling the seller I will buy this house “AS IS”., and you are still confident about the properties state due to the prior inspection buy a professional home inspector.
Be flexible on your dates. Some sellers needs to move fast as they have transfered to a new job , some have to wait until their newly built home is completed. There are a million different reasons why the closing date should be a specific date for the seller. Have me talk to the sellers agent and find out what date preferences the seller has and we can see if these dates can be worked into our offer. The more I can find out about what is motivating the seller the more we will be able to accommodate. Offer a larger earnest money deposit. Yes it is fully refundable in case you terminate the offer before some of the contingency deadlines and therefore is not a very strong advantage in structuring a competitive offer, but an offer is the sum of its parts and every little bit of improvement will show your sincerity.
Every deal is different but there is always something I can find that is non monetary that will make a difference to the seller. It might just clinch the deal.
|
|