You’ve worked hard to find the home or investment property of your dreams.
You may think the hard part is over, but in 2022, that may not be the case. Chances are that the seller of the property you want has received multiple offers. In this competitive market, many buyers are doing whatever it takes to land a home, including making cash offers and waiving home inspections. But you don’t have to go to such extreme lengths to entice sellers. In the following post, we will walk you through important tips on how to put together an attractive offer on a home. Of course, you can always speak with us directly here at Vutech | Ruff, Corcoran Global Living for expert real estate advice and services.
The ability to mobilize as soon as you see a new listing is very important in today’s market. In some cases, sellers are looking to sell as quickly as possible, and they may only consider the first few offers they get. If you’re looking to buy a home, you have to be ready to act at a moment’s notice. This means keeping your schedule flexible so you can go see a home as soon as it is available for viewing. It also means having your proof of funds organized and ready to send over.
Have all of your documents ready and be sure you have consulted with a loan officer so you don’t waste time on homes you can’t actually afford. Keep all of your financial documents secure and in one location so you can gather and send them as soon as you need to.
Offer Enticing Incentives
These days, sellers are looking for a variety of incentives, so it’s important to know which are of chief importance among sellers. One of the strategies we have seen work for buyers is offering to pay some of or all of the seller’s closing costs.
Here are some other incentives you can offer sellers:
- General Home Inspection – An inspection based on a pass/fail grading as opposed to an itemized list of repairs may make your offer more attractive to sellers.
- Put Up More Earnest Money – This will show that you are serious about buying the property.
- Cover Your Closing Costs – At the end of the day, the seller will be looking at his or her bottom line. You can stand out if you make your own closing costs one less thing the seller has to worry about.
Something to Keep in Mind
The most common tactic for winning a home over competitive buyers is simply offering more money. While this may be a viable strategy, the buyer should be aware that lenders won’t cover the difference between the appraised value of the house and the final purchase amount. If you do plan on offering more money for a house, be prepared to make up the difference between what you pay and the appraised price out of your own pocket.
Contact Us for More Information
Here at Vutech | Ruff, Corcoran Global Living, we want you to be as educated as possible, whether you are a buyer or seller. We are Columbus, OH, real estate experts with more than 60 years of collective experience, which means we can answer all of your questions. Talk to us today!