Five Ways to Make the Seller Look Close at Your Great Offer!

When writing an offer to buy real estate, you want make the seller look closer at your offer and distance themselves from the competition. Here are five ways to do just that.

        

1. Submit proof of ability to pay. That is give the seller evidence of payment in the form of a pre-approval letter or proof of funds from your financial institution of choice. This gives the seller peace of mind knowing they have not committed to the sale of their property and are missing out on other offers while financing is secured.

2.    Offer a realistic price that you believe the seller may accept. Too often buyers erroneously believe that if they “Low Ball” the seller their offer will be accepted. What happens here is the seller usually rejects the low offer and accepts a “Better” offer.  Your low offer makes the better offer look, well, Better.  The best way to avoid this is have your agent run a comparable market analysis on the listing under consideration and put your best offer on the table first. This way you stand a better chance of getting your offer accepted and owning the property.

3.   Limit or remove contingencies on your offer. Include only the most important terms, conditions and contingencies that are the most important to you.  Common buyer contingencies include inspections, financing and selling the buyer’s property first.  Too many may turn the seller to other offers.  If you need to have a contingency offer a kick- out clause. This means that if the seller receives another offer which appears better than yours, you will have 48-72 hours to remove your contingencies or the property goes to the next buyer. Talk with your agent about kick-out clause.

4.    Write an offer with a large enough earnest money deposit to make the seller notice. If you are serious about your desire to own this property, put down a large earnest money deposit. This deposit will be applied to your purchase price at closing. Talk with your agent about your state’s rules and regulations regarding earnest money amounts.

5.    Make a summary list of the strong features of both you and your offer. Tell the seller why you want their property; tell them your plans for it. Raise your family, retirement, vacation or whatever. Also tell the seller why you believe your offer stands out from the rest and why it should be consider above the others. Your agent should be able to help you write this note to the seller.

In short the best way to make an offer on a property is to provide proof of ability to pay, offer a realistic price, keep the offer clean and straight forward, place a large earnest money deposit and write a personalized note to the seller. Follow these steps and you may find yourself saying, “Home Sweet Home!

By Bob Weibrecht
Realtor
Coldwell Banker Gundaker
 314-852-9566 / 636-461-2000
www.HeyBobStL.com

FYI - The goal of this blog is to provide general information related to the buying and selling of residential real estate. The reader is highly encouraged to consult the services of a professional real estate agent during the transaction. This blog is not a substitute for any type of professional assistance which may be required.