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6 Secrets for Getting Your Home Offer Accepted
Sometimes the hardest part of house hunting is the disappointment of finding one you love, having it within your grasp, and then having another offer chosen over yours. How do you make sure your offer is at the top of the seller's list? Our REALTORS® know all the secrets to making your purchase offer scream, "Pick me!"
- Be Quick
The number one mistake you can make in a seller's market is to hesitate. With low inventory and lots of buyers looking for homes, you've got some serious competition, so every moment counts. Your best bet is to set yourself up to be able to move quickly. Have automatic alerts set up with your agent, and move quickly as soon as potential homes are listed. Go see them right away, and don't hesitate if you like something enough to make an offer. - Include a Personal Letter
A personal letter is one of those things that can make a huge difference in which offer a seller chooses. It puts a human face on your offer, enabling the seller to imagine who will be living in their home a year or two from now. Describe yourself to the seller: your family, your goals, and why their house is your dream house. It's human nature to be compelled by the thought of helping someone achieve their dreams. - Submit a Pre-Approval Letter
Being able to demonstrate your financial ability to follow through on your offer is a huge selling point. A seller won't want to accept a risky offer; if it falls through, that's wasted time and opportunities. Demonstrating your financial ability to follow through on your promises will make your offer much more inviting. - Make Fewer Contingencies
You might really want that fence finished or roof replaced, but is it worth it to you to risk losing the house? If the seller has several offers to choose from, the one that requires the least amount of work from them is likely to be the most appealing. Limit what you are asking for to only the most important things to you, the true deal breakers. You're likely to get what you want if you limit your requests. - Offer More Earnest Money
Offering more earnest money than what the seller is requiring may seem unnecessary, but it shows them that you're really serious about buying their home. Even more importantly, it will create a feeling of goodwill toward you if there are multiple offers in play, and could tip the scales in your favor. Remember, the goal is to make your offer seem the most appealing compared to anything they've already received or could possibly receive in the near future. - Make an Offer Over Asking Price
Asking price is best thought of as a guideline, particularly in a seller's market. When there's not enough inventory to go around, homes frequently sell over asking price. Making yourself stand out from the competition could be as simple as offering a little over asking price... or a lot, depending on how many other offers you think are likely to be in play.
Of course, a winning offer will be one that incorporates all of these elements. If you make an early offer for more money, an easy transaction, a guaranteed sale, and succeed in putting a human face on it, you will most likely blow your competition out of the water.
For more information about landing the home of your dreams, contact Wagner Realty. With years of real estate experience, our REALTORS® will make sure your offer gets noticed.
