If you find the perfect home, you may be anxious about making the home offer and enticing the buyer to accept it. However, you should remember that you aren’t the only bidding on the property. For an average home, you may be competing with a dozen or more other bidders who each want the property as badly as you do. If you want to stand out from the crowd, you need to make sure that your home offer is not just ordinary.
There are things that you can do to entice a buyer to consider your home offer seriously. If you are clever and patient with your home offer, you may increase your chances of winning the bid. Here are three ways that you can make your home bids smarter and more effective.
You already know that the seller has something that you want: the home that they are selling. If you want to make a smart bid, you have to consider things from the seller’s point of view. If you know why they are selling and what they are trying to accomplish, you can start to understand their reasoning. You can usually find out this information by studying the home listing, talking with the seller and the real estate agent.
For example, if the seller is moving across country and is in a hurry to close on the deal, you could offer to complete a home inspection quickly so that there are no delays. You can also completely arrange your financing beforehand so that the closing process can resolve rapidly. By understanding the seller’s needs, you can make your offer more attractive than the rest of the crowd.
Sellers know that sometimes they will be waiting on the buyer to act in order to close the deal. You can ease their stress by showing that you are serious and fully ready to move forward. Get your financing squared away beforehand so that you can show the seller that you are not going to cause any delays. Take the time to arrange your appraisal and your loan approval well before you try to close the deal.
Your appraisal and your approval will take time to finalize, sometimes more than a couple of months. If you can take care of this and approach the seller ready to close, they will see that you are serious about your home offer.
While negotiation can be an important part of the home buying process, some home sellers simply want to avoid this. They may want to wrap things up in a hurry or they may simply have no interest in long, drawn-out negotiations. You can show them that you are serious by making a home offer that is sure to outbid the other potential buyers.
Check with your real estate agent to find out how much it will take to surpass the other offers on the home. If your appraisal and financing are in place, you’ll be able to make an offer that is clearly above the other offers the seller might receive.
With the right preparation and strategy, you can make your home offer much more appealing to home sellers.