These are the things I have found you need to keep in mind to write a competitive and attractive offer on home:
- Remember one very important thing – Price is not the be-all and end-all –
TERMS are just as important!
- Structure your offer in a way that is compelling to the seller, showing the seller that you are fully intending to close the deal.
- Some ways to make you offer compelling are these – After I have a conversation with the listing agent on the property we are writing on, I will have an idea what things the seller finds important to them other than just price.
a. The first thing could be length of close – if the seller needs the funds quickly, shortening up the escrow length and getting the deal closed quickly can be a nice incentive to the seller. In addition, offering a seller some time to stay in the home after in order to pack, move and find their next home is a great way to sweeten a deal.
b.Shorten up your contingency periods – making an effort to do your due diligence in as quick a time frame as possible is a great way to show you’re serious.
c. After a conversation with your lender, should you have a mortgage on the deal, shorten up your appraisal and loan contingencies as well so that the seller can get your full contingency removal as quickly as YOU are comfortable with, thereby allowing them to effectively plan for their next step.
d. I always encourage either a letter or a video of introduction from my buyers to the sellers, as a way of making a personal connection with the seller – selling and buying is emotional and having that extra connection can very often work in your favor!