5 Tips To Get Your Offer Accepted
Everyone has a story of that one house they couldn't get. You know the one, it's been around for awhile and you've always wanted to buy it but someone else always beat you to the punch Well, we're here to share 5 tips on how to get your offer accepted so that this doesn't happen again. From following up with sellers after submitting an offer, making an all-cash offer or even just showing up in person at their office, these tips will help increase your chances of getting your dream home!
1. Be sure to get pre-approved. Then, show the proof with your offer.
If you'll be getting a loan for the purchase of your home, talk with lenders to get pre-approved and include copies when making an offer. This letter shows sellers that are serious about buying homes as well as those who have been given preliminary approval from banks or mortgage companies which will state how much they think someone in this position can afford based on their credit history.
2. Put in more earnest money.
Offering 1%–2% in earnest money is common practice today. However, if you want a seller to know that they are dealing with someone serious and have their best interests at heart then offer more than this percentage because it could potentially go up or down depending on how things play out during negotiations! Remembering that any funds given upfront will be lost should anything happen later really helps put everything into perspective before making such an important decision so make sure all contingencies are covered just in case the buyer decides not long after the purchase.
3. Know your seller so you can structure your offer.
The right offer can mean everything. It's not just about price though, sellers may have other motivations for their home and the timing of sale so it’s important to determine what those are before making an offer on a property that will need more time or dedication from you in order to close quickly (if necessary). Speak with your agent if this sounds like something you're struggling with - they might know how best to approach these situations based on knowledge alone.
4. Make the due diligence period short.
In a multiple offer situation, the seller may want to allow buyers more time for their inspection so that they can narrow down what property will be best. Contracts often give back-out rights during this period of due diligence and it would not serve you or them well if an agreement could only happen at short notice because there is always another bidder waiting in line.
As a result, sellers often choose the offer with the shortest due diligence period because if they go back out then at least that means there's some level of commitment from your buyer. Completely forgoing inspections can be risky business--if you don't conduct one and find something major wrong in advance then chances are high their willingness will evaporate completely on top of everything else! Do yourself (and most importantly: potential buyers) a favor - have someone go over every inch or so before making any decisions based solely on those last-minute scribbles.
5. Have an offer as clean as possible.
When you offer a house, the more simple and straightforward your requirements are on paper the easier it will be to secure. It may also mean not including other contingencies like buyers needing to sell their home before buying yours or asking them for any closing costs - if this is an issue now don't worry too much because I have good news: there's been plenty of activity in my area lately so competition should slim down soon!
Additional Step that’s helpful:
6. Make an Escalation Clause
An escalation clause is a great way to ensure that you get your own house if the other bidder makes an offer. If it doesn't work out, then they will always have higher than you so there's no need for awkwardness in negotiating further on price or terms of sale with them!