How To Present An Offer A Seller Will Love
July 11, 2022 | amandasearlerealtor
Searching for a home is only one part of the process when you’re ready to move. After you find the right home, you have to make an offer the seller will accept. This may put you up against other home buyers, which can make the process stressful. Here are a few tips to help you present an excellent offer the seller will love.
Put More Money Down
One of the biggest concerns for sellers comes when the buyer puts in an offer contingent on a mortgage. This puts the seller in a position of wondering whether the buyer will be approved for enough money or if they will come up short.
When you put a larger amount down on the home, the seller doesn’t have to worry as much. It’s easier to get approved for a smaller mortgage amount, especially if your down payment is large enough to put equity directly into the home when you purchase it.
Of course, the best way to make an offer is to do it entirely in cash, as the seller has nothing to worry about. However, if you cannot afford to make a full cash offer, a large earnest money deposit can give the seller the assurance they need to accept your offer.
Shorter Contingency Periods are Preferred
If you make an offer with contingencies, the shortest they are, the more the seller will like your offer. You do want to keep enough time for a home inspection, appraisal and to get your loan, but if you go too long, it could cause the seller to choose a different offer.
Typically, a 14-day contingency is normal. However, if you can get everything you need to do, done in just 7 days, make this your contingency period. Even just one week can make your offer more appealing than another offer.
Get and Stay on the Seller’s Good Side
A seller can reject your offer simply because they don’t like you or they like somebody else better. Many sellers have an emotional attachment to their home and they want to sell it to somebody they like. Some of the ways you can get on the seller’s good side include:
- Show up on time or early for all appointments
- Be respectful when visiting the property
- Keep any negative comments about the property to yourself and only share them with your real estate agent
- Send the seller a thank you letter after you have viewed the property
Don’t Expect Too Much from the Seller
A clean offer makes a difference for the seller. Sometimes, they will accept a lower offer simply because it provides fewer contingencies. If the terms of the offer are favorable for the seller, you may be able to get the home for less.
Some of the things you may be able to give up include specific repairs and closing costs. However, you do want to make sure you only waive contingencies if you are comfortable with the contract. Make sure you speak with your real estate agent when it comes to the contingencies.
Writing an offer a seller will love doesn’t have to be difficult. It also doesn’t have to be only favorable to the seller. With the help of a talented real estate agent, you can use the tips above to write an offer the seller will love.
