5 Must Haves To Get Your Offer Accepted

By Admin (1 year ago)

When submitting a real estate purchase offer, how do you stand out from the crowd? There are 5 little known facts that will give you a huge advantage over the competition, and even most real estate agents don’t know all of them…

  1. Discuss It - always speak to the Seller and/or Listing Agent prior to making an offer. This sounds like a small detail, but it is incredible how many buyers and agents fail to even let the seller know that they are going to submit an offer. Ask questions - why are you moving, and what can we do to help with your transition? Many offers are not always the highest price, but every accepted offer provides the seller with as many terms as possible to make their move easier.
  2. Cover Letter - write a cover letter about yourself and/or family and include photos. Let the seller know why you love their home, and how much you are looking forward to purchasing it. Again, the emotional aspect of selling a house cannot be overlooked, and many buyers have won a bidding war because the seller wants them to own the house, not because they submitted the highest offer.
  3. Provide Documentation - there’s nothing worse that a buyer who only provides a purchase agreement with no ability to close the purchase. Have your lender provide a desktop underwritten approval that demonstrates your ability to close the purchase quickly. Provide a credit report and proof of funds (like a bank account or retirement account). Provide a landlord letter if you’re moving from a rental property, or provide the estimated proceeds if you’re selling your current home in order to purchase this one. The more documentation you provide, the better chance you have to get your offer accepted.
  4. Closing Calendar - let the seller know what/when you plan to do inspections, appraisal, and have your loan approved. You want to take all of the unknowns out of the transaction, and the best way to do that is to provide an upfront calendar of what you plan to do over the next few weeks, and keep the seller informed.
  5. Thank You Card - send a hand-written thank you card to the seller and listing agent. Just a short handwritten note can be the difference between an offer getting accepted or rejected.

Always remember that there is at least one, but typically many people of the other side of a real estate transaction, and the more communication you provide, the better! We are here to help, and OfferBot provides the easiest platform to take care of all of the small details, so that you can get your #OfferAccepted!

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