I’m today’s tough market many buyers are reaching the point of desperation due to so many denied offers. Here are some tips to get your offer accepted.
1. Understand the market in your area and ask your Realtor how high are the offers that are being accepted. The market is very competitive and prices are going up. Many offers are being accepted 5 to 10 thousand above asking price. Anything above 10 thousand can create an issue with the appraisal and agents do not take extremely high offers seriously.
2. Many buyers feel that is the sellers responsibility to cover several costs to include the buyers closing costs. However, everything in Real Estate is negotiable and the less you ask of the seller the best opportunity you will have.
3. Financing is another big question and my suggestion is put as much money down as possible. If you are able to avoid FHA or VA financing the better your offer is considered to be by the seller. If you have no option but to use FHA or VA look for a lender that can close in 30 days in order to compete with conventional offers.
4. Write a letter to the sellers introducing your family and why that home is your dream home.
5. Consider using the sellers preferred lender if they have one they work with. This will ensure the seller that their preferred lender will close the deal.
6. Adjust your expectations according to the market and carefully evaluate each home your Realtor shows you. Satisfy your needs and your wants can be added later once you have the home. The more homes you consider and make offers on, the better your chances will be.
7. Be patient and have an open communication with your Realtor. Have your Realtor educate you on the market and act quickly when new homes hit the market.
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