How to Make Sure Your Offer Sticks Out
Today I’ll provide you homebuyers out there with some handy tips to make your offers stick.
In order to make sure a home seller chooses yours over your competition’s, try the following tips:
1. Try to be the first offer the seller sees. If you’re tracking a home, make sure that you submit an offer the very first day that listing goes live on the market. Sellers can decide to hold off on reviewing offers in hopes that they’ll generate a multiple-offer situation, but here and there, you may get lucky enough to have your offer accepted right away if it’s clean and strong in the seller’s eyes.
2. Make sure your offer price is strong. Especially if yours is the first offer in front of the seller, you at least want your offer to meet the seller’s asking price. It might be a good idea to even exceed that asking price a little bit; if there are multiple offers on a home, it’s typically only those that go over asking price that will win.
3. Put in a strong due diligence money offer. On a $300,000 home, I recommend you put in at least a couple thousand for your due diligence money to make your offer stand out from the competition. However, remember: Your due diligence money is immediately at risk once you submit it; if you decide to back out of the transaction after that point, the seller keeps that money. That’s why a strong due diligence offer shows the seller that you’re serious about the purchase.
"If you’re tracking a home, make sure that you submit an offer the very first day that listing goes live on the market."
4. Make sure your due diligence period is minimal. Having a shorter due diligence period in your offer will attract a seller’s eye and tell them you’re serious about making it to the closing table.
5. Write a letter to the sellers. I’ve seen a seller decide to move forward with a buyer's offer because a personal, hand-written letter was attached to it. It wasn’t even the highest offer on the table; sellers are often emotionally attached to their homes, so writing a letter to them detailing why you want their home may appeal to their softer side.
6. Make sure that you work with a great agent. A great agent like you’d find at A Cole Realty will make sure that you’re well aware of the process and will educate you on how to go about making a strong offer in order to make sure that it sticks.
If you’re thinking about buying a home here in the Triangle market or anywhere in the country, feel free to reach out to me. I’d be glad to help you reach your goals, or refer you to someone who can. I hope to hear from you soon!