How to Strengthen Your Offer

Submit a Larger Earnest Money Deposit
Your earnest money is used as a portion of your down payment. We typically see buyers put down 1%. Increasing your earnest deposit above normal limits tells your seller you are serious about buying. This speaks volume in a multiple offer situation. You can receive this deposit back if you cancel the deal during the option period. 

Show Sellers You Qualify
Nearly every home offer and certainly every multiple offer will include a lender letter. Stand out by asking your lender to fully approve you up front, sending your loan application to underwriting. SEE OUR PREFERRED LENDERS. This fully approved status is different than a pre-approval letter. Although it takes more time to be fully preapproved it will let the sellers know your money is good and the closing process will be fast and simple. Being a fully qualified buyer makes your offer a stronger one in the seller’s eyes. Ask your Realtor to explain how your lender can help you be fully approved!

Give Your Sellers Time to Move
It’s tough selling a home and moving into another. In your offer write up a move out time that will make it easy for your sellers. Give them multiple days to move out after closing without expecting compensation. If they need even more time then allow the sellers to lease back the home from you after closing. You can even discount the rent fees in your initial offer to make your offer stand out even more. Confused? Contact us today!

Shorten or Waive Contingencies & More
You typically have 10 days for inspections but you can waive the right in writing. Of course you will get your home inspected but shorten the time period. Maybe offer a 7 day or even a 5 day option period. If you’re good on your home loan you could also waive loan approval contingency. Ask your Realtor to call the listing agent prior to making an offer explaining your financial good standing, fully approved loan and your seriousness in buying. 

Waiving the Title Policy
Title insurance protecting the lenders interest in your property is many times paid for by the seller. Make your offer stand out by writing an offer where you the buyer covers the title policy cost. This is tact on to your closing costs.

Have Your Agent Write Your Best Offer
Never go into buying a home hoping for a negotiation period. If this is your dream home offer your best price. When going for a home with multiple offers make your offer attractive, maybe a bit above list price. If your agent did their homework you’ll have a good understanding of what homes around are valued and selling at. Sometimes sellers intentionally set the home sales price below comparable sales to go for multiple offers. In this case paying a few dollars extra doesn’t necessarily mean your paying over the home market value. Other times sellers over price their home. If it's sitting longer than the neighborhood average days on market you'll know it's either over priced or it's condition is not up to standard. Contact our team about helping you find your dream home today!

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