In today’s real estate market, buying the first home a buyer falls in love with may be difficult! It may take a few offers to get accepted. It doesn’t hurt to have a war chest of strategies to help your odds in getting your offer accepted.
TIP #1
Don’t low-ball the seller. Be prepared to pay fair market value. Low-balling may alienate the seller right off the bat. And it wastes everyone’s time. Plus while you are messing around, chances are another offer is being accepted. Get serious.
TIP #2
Be flexible with your timing. The more flexible you are with the timing of the seller’s move, as to how quickly or slowly their needs are to move can give you a great advantage over other offers.
TIP #3
Tug at the heart strings. Find common ground with the sellers, like are you both veterans? If there is a situation with multiple offers vying for the same property, write a personal letter to the sellers that shows why you love the house and that might help to set your offer apart.
TIP #4
Increase Your Earnest Money deposit. A larger earnest money deposit may appeal to a seller. Ask your agent for advice. You might consider doubling or tripling that amount. You're going to pay it anyway at closing.
TIP #5
Don’t request favors of the sellers. Asking for additional appliances, furniture, fixtures, or repaint the front door could hurt your offer and get you put at the bottom of the pile.
TIP #6
Limit the contingencies. Get a pre-inspection. Anything you can do to speed up the buying process and make it easier for the seller might improve your chances.
