Making An Offer On A House- Tips
Want to make
them an offer they can’t refuse?
going to share 6 tips to make your offer seem irresistible!
ready…Here we go.
Kelly Lakeland Homes and Lifestyles with Premier Realty. Thank you for taking
the time to join me today.
every Monday with another video to help you make smart decisions when buying
or selling a home and sometimes I talk about whats Hot and whats Not in the
Greater Lakeland area. So if you’d like to be notified when my latest video is
out, hit the subscribe button and make sure to ring the little bell.
intentional you are when making your offer the better your chances of creating
the winning bid.. So make an offer like a BOSS and follow these 6 steps!
# 1 Focus on your ‘Musts’
you have chosen a seasoned Realtor who you can trust to give you advice of
contractual terms, contingencies and price.
But it’s YOU
who ultimately decides how much to offer.
This is the
time to focus on your “musts”….Meaning….
saving for retirement or take 3 week vacations to Europe every year..Have a top
limit price and Stick To It .
Or maybe you
want to raise a herd of Alpacas and paint your new house poke-a-dot purple.. Make
sure the HOA will allow you to do the things that are important to You.
If a dog
friendly community is important to you, make sure your 120 pound German
Shepherd will be welcomed.
examples are a little extreme, but you get the idea.. You know your financial
and lifestyle limits..Stick to them!
#2 Figure out Your Down Payment
thing a Seller is going to look at on your offer, is the offered purchase amount.
thing they look at is how much you’re putting down.
they’re looking to see how much skin you’re putting into the game..
cash is king! But if you’re financing, the seller is going to look at the amount
you are putting down. This tells the seller how strong you are financially.
Say the seller received two offers for the exact same purchase price, same terms
and both were buyers are financing. But
one was going with FHA financing, which is only 3.5% down and the other offer is
Conventional with 20% down.
most likely would take the offer that was going Conventional.
worry! Hang in here with me because I’m going to tell you how you can have the
winning bid even without having the strongest form of financing.
forget to tell you later, in the description below, you’ll find a link to access
my New, 2020 Buyers Guide. In it you’ll
find loads of money saving tips and all the details you’ll need to know about the home
# 3 Make
Part of your
purchase offer will include an Earnest Money Deposit. You receive credit for this amount at closing
towards your purchase.
seller you mean business! Deposit like a Boss!
the typical 1% that most people deposit.. Show at least 5% or More if you have it. On a $250,000 home that would be $12,500.
you’re telling the seller you are putting your money where your mouth is. This
speaks volumes in a sellers mind.
I also use a
strategy most Sellers never expect.. If you’d like to learn more about my Top
Secret Weapon..And it’s a good one! Check out my earlier video that has all the
# 4 Contingencies
offer as “ clean” as possible with as few contingencies as possible.
are provisions that must be met before the transaction can move forward and
is contingent on a Home Inspection’. Of course, you Never want waive the right
to a home inspection.
can make your offer appear stronger than your competitors’ impress the seller
with a shorter inspection period.
Your Realtor should be able to facilitate this
for you by making sure your home inspection can be schedule immediately and
quickly negotiate any repairs if needed.
contingency that make Sellers cringe is a Home Sale Contingency.
If you have
to close on your existing home in order to buy your new home make this
contingency as sweet as possible..Timing is crucial here.
It is best to have your current home under
contract, the inspection and appraisal out of the way so you can show the
seller you have a solid offer that have passed the major contingencies already.
And have documentation to prove it.
This is a
lot stronger than making a Home Sale Contingency when your current home has
only been on the market for a few days and you don’t have any offers yet.
sure you fully understand the risks when making contingencies in your purchase
# 5 Closing Date Flexibility
want to close as soon as possible. But if you’re financing, your lender is
going to need time to prepare your mortgage loan, which typically can take up
to 30 days.
Realtor talk to the Sellers representative to find out what the sellers plans
may be. Maybe they are building a new home and has a finish date in 45 days. Be flexible as
possible by showing the seller you can compromise by allowing a 45 day closing
to accommodate their situation.
appreciate this more than other terms in the offer often times, especially if
their move is taking them out of State.
# 6 Write a Love Letter
I can’t tell
you how many times a Seller has chosen to accept an offer based on the buyers
personal letter to the homeowner. It’s not always about the money!
submitting a purchase contract, have your genuine, heart felt letter attached to
seller a little bit about your family and how you see can see future memories
made in the home.
compliment the sellers on how well they have cared for the home and how you
appreciate the small things…and name them in detail.
the letter by saying you hope they choose your offer so you can start loving
this home like they obviously have all these years.
Believe me, by
humbly doing this small thing, you can be guaranteed the seller will want to
entertain your offer!
Just as a
reminder, check out my New 2020 Buyers Guide. The access link is below in the
description , along with all my contact info.
Kelly, and until then…I’ll see you on the next one.