4 Tips for Increasing the Appeal of Your Offer
Today I’ll provide you a few key tips homebuyers can use when making an offer in a seller’s market.
When you’re buying a home in a seller’s market, you’ll often be competing with other buyers in a multiple-offer situation, but don’t let that scare you away from making an offer on the home that you really want. Here are a few things to consider if you want your offer to make an impression on the seller:
1. Make a large earnest money deposit. Don’t settle with the standard amount—go big. That will grab the seller’s attention and indicate how serious you are about buying their home. As your Realtor, I’m able to write special stipulations into your contract so that your earnest money is never at risk of being lost.
2. Show the sellers that you’re qualified. That means working with a reputable lender who will pull your credit, look at your income and assets, and then verify those documents so that they can feel confident about providing the loan you’re seeking. Doing this will show the seller that you’re a buyer who can make the closing happen.
3. Give the seller time to move out. Sometimes buyers try to rush the process to be done in 30 days or fewer; if the home is vacant, that can sometimes make sense. But if the seller is still living there, you need to be flexible with your time frame so that they can move out of their home without feeling pressured.
4. Make your best offer up front. Buyers often want to enter into the transaction with negotiations to get a lower price, but that’s the reverse of how it should work. Make your best offer from the very beginning and be willing to make some small adjustments. You’ll have the seller’s attention from the get-go and they’ll know you mean business.
Hopefully, this topic was informative for you. If you have any questions, don’t hesitate to reach out to me. I’d be happy to help.