In today’s housing market, you are likely to find yourself competing with other buyers for the same home. However, there is more to a winning home offer than just money. In order to get the home you want, you need to make your offer stand out from all of the rest.
Have a Financing Plan
Before you begin house hunting, it’s important to find out how much home you can actually afford, which can be done by obtaining a pre-approval from your mortgage lender. You can also choose to pay for a home in cash, but will need documentation to prove to the seller you have funds to purchase the property outright. If you don’t have a financing plan in place, sellers will not consider your offer.
Write a Personal Letter
One of the most common and essential things you can do to make your offer stand out is to have it accompanied with a personal letter from you. Let the seller know why their home in particular is special for you and how you and your family will benefit from living there. Although you want to express your desire for the home, you want to keep it simple and straightforward.
Once you’re finished with your offer letter, make sure your real estate agent personally delivers your offer to their listing agent. It should help create a stronger bond and impression with the listing agent and the seller of the home that could improve your chance of your offer being accepted.
Make Your Best Price Offer
Before you make your offer, determine what you are willing and able to pay the seller for their home. Make sure your offer is comparable to recent sales of similar properties in the area. It’s likely you will only have one chance to get your offer right, so it’s important to make sure you’re making your best offer. Holding back could cause the seller to choose another buyer.
The above information is for educational purposes only. All information, loan programs and interest rates are subject to change without notice. All loans subject to underwriter approval. Terms and conditions apply. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.