Have your sights set on the home of your dreams? Make sure the seller finds your offer impossible to resist with these expert tips from the Valarie R. Brooks Real Estate team:
Grab the seller’s attention with a substantial initial offer
Don’t be afraid to present a bold initial offer. Remember that the homebuying process includes negotiations, which can still bring the final price closer to a range that you are more comfortable to pay.
At this point, the important thing is keeping the seller interested enough to proceed to the negotiation stage. In contrast, the very last thing you want to do is to start off on the wrong foot by making a lowball offer.
Another way to capture the interest of a seller is to offer a large earnest money deposit. It’s much easier to convince the seller that you are serious about buying their house when you are willing to pay more upfront.
Include a mortgage pre-approval letter
Back up your lofty initial offer with a formal document from a bona fide lender. A mortgage pre-approval letter indicates the amount that you are eligible to borrow in order to finance the purchase. This will give the seller more confidence that you are able to fully pay for their property.
Going through the mortgage pre-approval process also keeps you grounded about your purchasing power. By letting you know how much you can afford to pay for a home, your pre-approval letter is your guide to narrowing down your options to the most realistic and practical listings on the market.
Talk about what made you fall in love with the house
When pitching an offer for a home, you are allowed to tug at the heartstrings of the seller. Homebuyers are encouraged to write a personal letter explaining why they want to buy the property. Do your best to describe how the features and the amenities of the house are the perfect match for your needs and interests.
There is no template for these types of letters. This is a rare opportunity in the homebuying process where you can speak from the heart so make the most out of it.
Set clear and brief deadlines
The assurance of a faster turnover of your down payment and earnest deposit is a strong bargaining chip you can use.
Clear your calendar and be prepared to rush to a quick closing. Along with your offer, inform the seller that you are willing to close the sale quickly—preferably within 30 days or fewer.
Speeding up the process likely means that you have to shorten the periods dedicated for the home inspection and other contingency requirements. In certain circumstances, you might even need to waive these contingencies completely. You should only take this route after consulting with an agent or legal advisor, however.
The deadlines should apply to the seller, as well. Using polite language, give the seller a limited window of time to respond to your offer. If a seller is interested in your offer, they will not waste time getting in touch with you or your agent.
Ready to make your best offers for the finest houses for sale in Charlotte? Let the Valarie R. Brooks Real Estate Team be your expert guides throughout this exciting journey. Contact us at 704.488.5458 or Valarie(at)ValarieRBrooks(dotted)com to learn more about our top-notch professional services.