#RealEstate101

WHAT MAKES A STRONG OFFER?


How do you write a contract so that yours is the one that gets accepted? The goal is to find out what’s important to the seller and accommodate as much of what they want as possible, so that on the places that you’re not aligned, they have fewer terms to object to. Here are a few tips to keep in mind:

  1. Prove you are just as qualified to buy a house as a cash buyer. When submitting an offer, you must prove that you have enough money to close the transaction. You will need to provide an account statement that shows the source and amount that is available to pay your applicable closing costs.

  2. Make your offer clean. Don’t ask for closing assistance or a home warranty if you have any reason to believe you are in a competitive situation, such as one where multiple offers have been made on the property. Look the house over carefully and think about agreeing to accept the property “as-is” without any home warranty or repairs.

  3. Make your offer sweet. Add value to your offer in ways that don’t cost you a penny but may save the seller some bucks. For example, can you shorten the closing date to ten days if the seller is in a hurry?

  4. Play the emotions card. When the time comes to leave, sellers often want to know that it will be well taken care of. Is there a garden that has been a labor of love or a special room that’s important to the family? In your offer letter, promise to take care of the places that were so special to the sellers’ family as well as the property as a whole. The emotions card is something no investor can play.




REFERENCE: Equifax Blog

#buyer

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