If you’re a homebuyer, you know how important it is to get a seller to accept your offer. In the current housing market, with the lowest inventory levels in history, it’s more important than ever to be aggressive and make an offer that stands out from the rest.
The following are 5 essential tips for getting a seller to accept your offer:
- Make a strong, high-ball offer that’s competitive with the listing price.
Often, sellers in the market for a new home aren’t looking to pay much more than the property is worth. However, you can still offer a bit more than the listing price, and this may be enough to convince a buyer who’s not in a rush to close on the house that you’re serious about buying it.
- Do your homework before making an offer on a home.
When preparing an offer, take the time to thoroughly research the property and get a clear understanding of how the neighborhood is faring. This will help you determine what kind of home value the home is likely to sell for, and what kinds of improvements need to be done before it can be considered a good investment. Read more https://www.investorhomebuyers.com/sell-my-house-fast-celina-tx/
- Stay flexible to meet your sellers’ needs.
A lot of sellers have specific requests that they’d like to see met before accepting an offer. This can be the deciding factor in whether or not you’ll win the sale.
- Don’t ask for personal property from the seller in your offer, but do make it clear that you’re willing to cover any items they’ve left behind in the home.
- Be sure to include a counteroffer in the event the original offer falls through.
In the current real estate market, where there are so many buyers competing for a home, it’s not uncommon for multiple offers to be submitted on a property. This can lead to a bidding war that may not be fair to both parties.
- If the financing on your offer isn’t in place, include a contingency that you can walk away from the deal without losing your earnest money deposit.
The contingency is necessary because it gives you time to work with a mortgage company to obtain the funds you need to complete your purchase. It also shows the seller that you’re a serious and well-prepared buyer, which can give you leverage in negotiations.
- Put down more than the loan amount needed for the property.
If the market has recently risen in value or if there’s been an increase in interest from potential buyers, offering more than the loan amount can be a way to set yourself apart.
You can do this by negotiating a higher down payment or providing proof that you’ve already been pre-approved for a mortgage. This shows the seller that you’re in a better financial position than other prospective buyers and makes them more likely to accept your offer.