5 Creative Ways to Get Your Offer to Buy Accepted
Published on 2019-12-10
Make It Personal
Write a personal letter to the current owner of the home to submit with your offer. Let them know why this particular house is appealing to you. Do you have a history with the home? Will it be a good place to raise your family? Do you have plans to restore it back to its former glory? Many homeowners have a great affinity for their homes and are happy to know that the next owners think it’s special too.
Waive the Inspection
Many homeowners these days will have their homes inspected prior to putting them on the market. Typically, they will make a copy of that report available to potential buyers at an open house or upon request. If there is nothing on the report that is of concern or that you wouldn’t mind fixing yourself, waiving the inspection is likely to make your offer more enticing to the sellers.
Bring in Your Lender
While submitting a pre-approval letter from your lender is most certainly required these days when presenting an offer to a seller, engaging your lender is not. To sweeten your offer to buy, have your lender to speak to the seller’s agent on your behalf. Your lender can confirm that you have a favorable financial position in terms of income, assets, and debt and that you have been fully underwritten. This tells the seller, the sale is less likely to fall through.
Many times sellers have purchased other properties and are ready to move if they haven’t already. Offering a quick closing to purchase their home means they will have the money in hand sooner, which could be a major win especially if they are paying to mortgages. It also shortens up the time in which something could go wrong or someone would change their mind about the sale.
Offer Above Asking
If you are in a hot market where inventory is low and demand is high, making an offer above the asking price is extremely common. This is not a time for low-balling the seller to get the best deal you can. An offer above asking is often times enough to win the sale, but doing so with a personal letter give the seller both a personal and a financial interest in accepting your offer.