8 Tips How to get your offer accepted in a sellers market?

 

 

 

 

1. Price. Price is not the ONLY term that matters, but let’s face it, it is a huge factor on whether or not the offer gets accepted. In competing situations, buyers may have to offer full price or above.

2. Contract Deadlines. These deadlines can be good indicators on how solid a buyer really is. Making the deadlines

as short as possible sends a strong message. Also, accommodating the seller’s moving schedule can be just the

thing to help the seller feel good about your offer.

3. Earnest Money. Remember earnest money. is money set aside in case of a default that hurts the other party. So

when this amount is low, it sends a message that they want the other party to take the risk. Pay close attention to

section 8.3bi of the Real Estate Purchase Agreement ( REPC). In my opinion, there should almost always be some amount there, otherwise Finance and appraisal deadline would likely be used as an out for the buyer.

4. Include Lending Strength Documentation. Often referred to as a “letter from the lender,” this can build a case

that the buyer is well-qualified and well on their way to full loan approval. Not all lender letters are the same, so

make sure it has substance to it, such as credit, job, income, down payment, and assets.

5. Reduce or Eliminate Contingencies. Akin to #2, the strong offer has very little in the way to get to closing. Subject

to the Sale of Buyer’s Property weakens the offer substantially. If there is a way to remove it, it’s usually better.

6. No Blanks, No Mistakes. When a listing agent has to fix offer mistakes, it’s done in counter offer. Sometimes this

means it’s easier to counter other deal points as well. So, take your time and proof your offer.

7. Letter from the Buyer. Selling a home carries all the emotions that go along with it. Sometimes, introducing the

seller to who will be living in their home can help the offer get accepted. BE CAREFUL of fair housing laws that

guard against discrimination on race, color, religion, sex, handicap, and familiar status. Use your best judgment. It

can sometimes backfire.

8. Letter to the Agent. The listing agent would prefer to work with someone they know they can count on to get

things done on the buyer’s side of the transaction. Make sure you communicate that, and follow through.

 

 

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