Four Ways to Make an Irresistible Offer
After house searching for what seems like forever, you have finally found the right home for you and your family. You have saved for a down payment (or know of a great program that does down payment assistance), have a great realtor and are confident in moving forward. All you have to do now is make an offer. Here are four ways to make an irresistible offer for your dream home:
Escalate Your Offer:
If you’ve found the perfect house for you and your family, make your best offer. By escalating your offer, you are saying you can increase the amount of the offer by a certain amount but you won’t go over your cap. Use this method with the help of your realtor when you know there are multiple people interested in the same property. This shows the seller that you’re a serious buyer and committed to paying for the house.
Write a Letter:
Write to the seller and tell them how much you love their home and why it is such a perfect fit. Writing a personal letter can help captivate and charm the current owner. This is especially helpful when there are multiple offers on the table. Writing a physical letter will have you standing out from other offers and shows the seller you’ll be a good future owner of their home.
Home Inspections and no Repairs:
The last thing the seller wants to do is go through the hassle of a home inspection and required repairs. If you have competition, do not ask the seller to give you the normal required “15 days for an inspection.” Get one as soon as you can and make it an “as is” inspection. No home is flawless so the home inspector will most likely find a few things that might need addressing. Just be aware that it might be a bit riskier to buy a home “as is.” As long as the inspection didn’t find HUGE issues, making an offer that is “as is” means you don’t require any of the issues found to be fixed. This makes your offer look better and the sellers are more likely to agree and can sell their house quicker than having to negotiate repairs and work with contractors.
This isn’t how you make an offer but, it makes you and your offer look better. Not that if you’re not pre-approved you look bad, but if you’re pre-approved it means a lender has looked at your whole credit score and credit history and is willing to offer you a loan. This shows the seller that you’re ready to purchase the home and will be able to close the deal quicker than those who still have to go through the pre-approval process.
While these may seem like somewhat simple ways to make your offer seem irresistible to a seller, they could propel you to the top of the list in terms of accepted offers. Take the hassle out of home buying and be a successful buyer by attending a Homebuyer Education class where you’ll learn about tips like these and more. Check out www.nwwvt.org for more information and to register for an HBE class.
Author: Bailey Aines, NeighborWorks of Western Vermont part-time employee.