Buying A Home – 7 Strategies To Make Your Offer Stand Out From The Competition

If you’re considering buying a home when the real estate market is hot, or if you’re up against some tough competition trying to offer on the same house, you’ve got to go that extra mile to beat out your competition. Here are some tips to make your offer jump ahead of the rest:

1) Move Quickly – If you fall in love with a particular house, the chances are great there are other hungry homebuyers who feel the same way. If you want to increase your odds of having your offer accepted, you need to act quickly and be one of the first buyers to submit an offer.

2) Have Your Realtor Personally Present Your Offer – If the seller is open to meeting with your Realtor personally, have your Realtor present your offer in person. This way the Seller can hear why your offer is the best.

3) Make The Highest Offer – By making your offer higher than the rest, you’ll stand out ahead of the crowd. Your offer can jump out ahead of the competition even by just being a few thousand dollars higher.

4) Share Your Dreams About The House – When your Realtor meets with the seller, have him or her include a letter explaining why you want to purchase the property and the features that make it so attractive. Include positive comments the seller will appreciate such as how you’ll continue to care for the property just as the seller has. Your agent may dismiss this strategy, but in some instances, it could mean the difference between having your offer accepted or rejected.

5) Keep Your Contingencies To A Minimum – Dealing with loan contingencies and home inspections are standard protocol in a sale, but is you make too many contingencies in your offer, a seller may pass up your offer for another one. Be careful to not go overboard with your contingencies. You’ll even find buyers who are willing to skip the inspection process just to make their offer stand out. Bypassing standard home inspections aren’t recommended due to the risk of buying a home with flaws. The important point to remember- in order for your offer to appeal to a seller, you have to keep the number of contingencies to a minimum.

6) Do Your Loan Pre-Approval Early – Many homebuyers are ahead of the game by getting their pre-approval before searching for a home. If you don’t have a pre-approval letter ready when you make an offer, a seller won’t give your offer serious consideration because you may not be able to satisfy the loan contingency.

7) Make It Easy For The Seller To Say Yes – If you’re trying to shop when the home market is hot, you can eliminate most of your competition by making it easy for the seller to say yes. Try making an all cash offer and remove any loan contingency. If possible, try borrowing additional funds from family and friends to supplement your down payment to fund the initial purchase. After you move in, it’ll be easier for you to apply for traditional bank financing.

Are you looking to buy your dream home in Orange County, CA? Check out these Tustin realtors and Yorba Linda Realtors to help you find one!

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