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Make Them an Offer So They Know You Mean It
5 Tips for Making an Offer to Buy a Home
So you've fallen in love with the perfect house. Your dream home is waiting, and now the ball is in your court. Knowing how to make the right impression with the seller is an important element in negotiating an agreeable selling price and ensuring that your prospective new home doesn't slip away and into someone else's hands. Our real estate agents have the experience and know how to help you make an offer that's hard to refuse, and we've put together a few suggestions that could give you the advantage in sealing the deal.
1. Straight to the Heart
Many home sellers have an emotional attachment to their home and may be a bit reluctant of letting it go to a virtual stranger. If you are ready to make an offer, consider taking the time to write a cover letter to send with it. Of course you'll want to introduce yourself and perhaps give the seller a little bit of personal background, but more importantly, you'll want to let them know why their home is so appealing to you. Giving the seller insight as to why you love their home may just give you the upper hand, especially if there are multiple offers on the table.
2. Build Trust and Confidence
An offer is one thing, but documentation that backs up your offer in black and white is almost certain to get the seller's attention. Proof of financing terms from your bank as well as an underwriting approval indicates that you are ready and have the financial resources available to purchase the home.
3. Think Twice Before Asking for Extras
Asking for seller concessions such as closing costs may put your offer in line behind other buyers who aren't requesting such credits. Furnishings and fixtures are not always included with the home, and no matter how much you fancy them, it might be wiser to wait and purchase comparable items on your own instead of giving the seller a reason to hesitate in considering your offer.
4. Know Your Budget and Use It to Your Advantage
If you are in a position to do so financially, you might give some thought to making an offer over the seller's list price. There's no doubt that an offer that exceeds the seller's expectations will be taken seriously.
5. Sweeten the Pot
Want to let the seller know that you mean business? Here are a few other ideas that might sway the seller to accept your offer:
- Propose a quicker than normal closing date. This may work especially well if the seller is motivated and wanting to move quickly.
- Increase your Earnest Money Deposit. By willingly putting more down to begin with, you send a message to the seller that you are committed to obtaining the financing needed in order to purchase the home.
- Offer a month of free occupancy for the seller. Some sellers may actually need more time to complete the move from the home they're selling. Giving them the luxury of a little added time after closing might be a winning move on your part.
You know what you're looking for, and now you know some of the best secrets to making a successful offer. Your dream home is out there, and we want to help you find it Contact Wagner Realty today, and let our team of experts show you a world of possibilities!
