When you find the perfect home, there are three main steps you need to take in order to craft the perfect offer.
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Once you’ve found the perfect house, how do you craft a perfect offer to match? This is the question we’ll be tackling today. After all, the idea is to make your offer stand out.
The first point to remember when writing your offer, is that sellers like to see buyers who’ve got some “skin in the game.” They want to see that you are committed, and this means submitting an earnest money deposit that’s above the norm.
A $1,000 earnest money deposit is fine, but, given that this amount will eventually be applied toward your down payment anyway, wouldn’t it make sense to submit one that’s even higher? A $2,500 earnest money deposit, for example, is sure to catch any seller’s eye. If a property is a little more expensive (let’s say anything above $500,000), then you may even want to submit a deposit in the neighborhood of $5,000.
Sellers want to know that you are not only enthusiastic about their home, but that you are in a financial position to go through with the purchase.
Next, make sure that your pre-qualification form is as comprehensive as possible.
The only way this can happen is to partner with a lender before you even begin your search, and provide them with all the documentation they’ll need to support your strength as a buyer.
If any boxes are left unchecked on your pre-qualification form, a seller (and their agent) is sure to see this as a bad sign.
Sellers want to know that you are not only enthusiastic about their home, but also that you are in a financial position to go through with the purchase.
The third step in crafting a perfect offer involves shortening your inspection period.
Abbreviating your inspection period to between five and seven days will let sellers know that you’re ready, willing, and able to execute a quick and seamless deal. This little change can make your offer stand out among the many and shouldn’t cost you one nickel.
Of course, let your agent know if you plan on using this tactic. So that they can help make sure that the inspection is still completed as it should be. Our team would be happy to help you implement this and other strategies, when you decide to move forward with your home buying process.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.
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