Finding your perfect home can be easy but getting your offer accepted can be another story. Unlike my commercial deals, buying and selling of a home is complicated by all kinds of emotions and is certainly more competitive with homes listed in the East Valley under $400,000. So when you find that “perfect home,” what a beautiful feeling it is…for me too! But before you call your friends and family over for the house warming party or summons the movers, remember that the seller has to choose you too! Follow “Brad’s Tips,” My first hand experiences to get your offer accepted and I’ll let you in on a secret, my buyer’s offers were not always the highest offer, but the best offer.
Tip 1. Get pre-qualified with a great mortgage officer first. Shopping for a home before getting pre-approved for a mortgage is the equivalent of walking into a grocery store without a wallet. Buyers are eager to get started but are put off by the loan application because they fear a lender may not approve them for the amount they plan to spend to purchase the house, some simply don’t want to divulge their private information. This is understandable but certainly backwards thinking. To have the best offer, you have to know how much you can afford. This will also show the seller you have the ability to perform. Most seasoned real estate agent agents, including myself, will not present a offer to the seller without it, even if your offer is higher. Don’t worry, loan officers don’t bite… and the lenders I recommend will always make sure that you are getting the best interest rate and excellent service.
Tip 2. Write a strong offer. Sounds easy enough but remember that the sellers typically want the highest amount of money possible with the least amount of hassle. Even if your offer isn’t the highest, you can make it the best. This can be achieved by presenting a larger down payment on your offer. This will show the sellers that you’re more financially secure and more likely to perform on the loan you plan to purchase the home with.
Tip 3. Be a smart negotiator, but be nice. Don’t sweat the small stuff that you can easily repair or change yourself. When representing my sellers, especially if the home has multiple offers on it, don’t ask for repairs or changes to the home during the offer negotiations. This will give the impression that you may be difficult to work with and the seller is likely to pass on your offer. I’ve had multiple sellers pass on good offers because the buyers appeared to be difficult to work with by asking for multiple items to be corrected on their offer. The best offers are win-win, and the smart buyer is advised to wait until their inspection before asking for reasonable repairs.
Tip 4. Write a love letter accommodating your offer. Sometimes, a heartfelt note from a potential buyer can make all the difference, even when the chances seem pretty slim. I’ve had multiple buyers do this and it worked. See the response below. Brad, thank you for submitting your buyers offer. We have several offers on the table now, however, the sellers appreciate your buyers service to our country and loves that they love this home. Tell your buyers congratulations, and please have earnest to the title company on Monday. Thanks Mary Your letter should be genuine and should really focus on why you love this home and why the seller should choose your offer.
Tip 5. Work with a Pro. It also helps to have a knowledgeable, well-respected pro on your side — someone who understands market realities, trends, and who will work well with you and the other agent. I know a great guy, contact him here for information.
Brad Daniels is a REALTOR® with 1st USA Realty Professionals and a market expert. Brad is a 16 year multi-million dollar producer and has helped hundreds of buyers and sellers achieve their real estate goals.