Here are some things to consider to ensure your offer gets accepted
What to expect when writing an offer
WHAT TYPE OF SALE IS IT?
Foreclosure, Short Sale, Traditional Sale, Cash
IS IT PRICED RIGHT FOR THE MARKET?
What is the buyer activity?
Are there current offers on the home?
What other homes are for sale in the neighborhood?
What has sold recently in the area?
How long has it been on the market?
WHAT IS THE SELLER’S MOTIVATION?
Are they price driven, or are there other terms that are important to them such as a lease after sale?
How long of an escrow are they looking for?
DO YOU NEED CONCESSIONS FOR CLOSINGS COSTS?
Closing costs such as title, escrow and lender fees usually cost between 1–3% of the sales price.
Structural Inspection $250–$500
Termite Inspection $75–$115
Radon Inspection $125
ARE THERE MULTIPLE OFFERS ON THE PROPERTY?
This is not uncommon for homes priced right for the market and in great condition.
Often the seller will ask for your “highest & best” offer. In other words, the highest price you will offer. This strategy helps ensure that if another buyer offered more, you would not have any regrets because you gave it your best shot.
HOW TO MAKE YOUR OFFER MORE COMPETITIVE
Escalation Clause: You agree to escalate your offer by a specific amount above any and all competing bona-fide offers from preapproved buyers up to a maximum purchase price.
Appraisal Clause: You agree to pay up to a specific amount over the appraised value, if the appraisal comes in short of the sale price.
WRITE A BUYER’S LETTER
Writing a letter to the seller is a way to personalize your submitted offer.
Tell the seller a little bit about yourself and/or family.
Explain and detail to the seller what you love about their house.
Share how you and your family see yourselves growing in the home and making it yours.