PREPARING AN OFFER
Your offer to purchase should be organized and concise, and should make a good impression for the sellers. Your offer should be the highest and best offer right up front. The best being cash offer without any contingencies. Not all buyers are in that category, but there are a few things you can do to make your offer a hit!
Have a cover letter with your offer that tells what your offer entails in a concise paragraph. Introduce your buyers with a few lines that say positive things about the buyers and what they love about the house. It may be the very thing that wins them over and beats the competition.
Second, be sure your offer is well written; that all the initials are taken care of and all the signatures are in place. Include a copy of the earnest money check and proof of financing with a pre-qualification letter from your lender. Talk with the seller’s agent to get a “picture of the sellers”. Make sure all forms that are required are included in your packet. Make sure the paperwork is tidy. Go over it one more time before submitting the offer. The best way to present the offer is in person. Present the offer in such a way that it hi-lights the seller’s wishes/needs.
Another thing to pay close attention to are the contingencies. Think “outside of the box” and get creative if necessary. The best offer is one with limited contingencies or none at all. If contingencies are needed then shorten the time frames as much as possible. No one wants a long and drawn out home inspection and negotiation period. Think about ways to beat the competition. Increase the earnest money deposit-it says the buyers are serious and that they have no intentions to walk away. Increase the down payment. Know the seller as much as you can so that you know what makes them “tick”. It may be something as simple as the settlement date.
Be the first one to make an offer on the house. Don’t worry about the price or how long it’s been on the market. Just make it a reasonable offer. Often times the first offer is seen as the best offer and can be the one offer the sellers take before reducing the price.
If you are thinking about buying then contact me! I’m easy to get a hold of.