How To Make Your Offer Stand Out

Dated: June 7 2021

Views: 128

How To Make Your Offer Stand Out

In today’s market,  it’s not uncommon to be in competition with several other buyers for your dream home.   When you find that perfect house, with the chic chandelier and the doggy door for Fido,  the last thing you want to do is lose it because your offer didn’t stand out to the seller, Taking the time to put forth a well-written offer can work wonders for a buyer. Each seller and agent may have different opinions on what makes the best offer, but here are some that we’ve found are the most consistent:

1. Include a pre-approval.

If you want to show the seller that you’re serious about buying a home,  get pre-approved before you ever sign an offer.   Not only does it show that you didn’t just waltz up, see the for sale sign and throw something out there, but it also alleviates some of the seller’s worries that you’ll back out when the bank finds out your credit isn’t actually as good as you thought it was.  Be sure to include that pre-approval letter from the bank with the signed offer.

2.  Make a decent earnest money deposit.

When you’re sure you can’t picture yourself without this house,  be ready to boost your earnest money deposit. Earnest money shows the seller that you’re putting your money where your mouth is, and you’re prepared to give up that chunk of cash if you back of the contract for any reason other than those allowed under the contract terms.  There is usually a typical amount offered for your area, so if you really want to look good, go above and beyond that amount.

3.  Remove all the contingencies you can.

Having two mortgages while trying to sell the home you’re in now isn’t really a dream that anyone has, but if you have the cash to do it, it’s definitely going to make your offer more desirable.  Anytime you can waive contingencies in the contract, like the sale of your current home,  it gives the seller more confidence that the deal will go through without a hitch.  Another option would be to shorten the typical time periods.  If it’s customary for your inspection period to be 15 days, shorten it to 10 to let the seller know you’re looking to make this happen quickly.

4.  Make it Your Best

When you’re up against multiple offers,  don’t waste a lot of time expecting to negotiate.  Base your offer on solid research of surrounding comparables and really offer what you’d be willing to pay.  If you don’t,  your offer may be tossed aside for others that did. This includes more than the price, too.  Maybe pay out of pocket for some of those extras, like a home warranty or closing costs, instead of asking the seller to contribute.

5. Get Personal

It’s time to let the seller know why you’re dying to buy their house, and be honest.  Is it because you want to raise your family in the neighborhood?  Do you see Fido rolling around in the big, fenced backyard?  Connecting with the seller and creating a sense of relatability can go a long way, but avoid sounding desperate.  The idea is to keep it short, simple, and honest, and don’t forget to have your buyer’s agent proofread it. Don’t hesitate to go out of the box to make your offer standout to the seller. It may end up getting you your dream home.

Blog author image

Holly Montilla

Holly understands that buying or selling a home is more than just a transaction: it's a life-changing experience. That's why her team of highly-seasoned real estate professionals is dedicated to provi....

Latest Blog Posts

What is the Top Financial Benefit of Homeownership?

There are many financial and non-financial benefits of homeownership, and the greatest financial one is wealth creation. Homeownership has always been the first rung on the ladder that leads to

Read More

Don't Forget to Budget for Closing Costs

When buying a home, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses. Saving for a down payment is the main cost that comes to mind for many, but

Read More

The Perks of Selling Your Home This Summer

The housing market forecast for the second part of this year remains positive, but there may not be a better time to sell than now. If you’re wondering what to consider when deciding if now is

Read More

Best of D!

I am so honored to once again be named one of the top real estate agents in Dallas by Best of D Magazine for the fourth year in a row! If you are not familiar with D Magazine, it is a

Read More