The Ultimate Home Buyer's Guide

CRAFTING YOUR OFFER

We alluded to this in the last section—a great offer is not just about how much you offer (although that does matter!). It is also about other terms you can offer.

Here are some typical terms and conditions sellers may be interested in:

• Are you flexible on your closing date? (They may want time to look for another home, for instance.)
• How much of a down payment do you have?
• Are you paying cash? (This is less risk and less time for sellers to wait. A cash deal has fewer problems that could cause a deal to fall through.)
• Will you waive contingencies, like for a home inspection? (Not necessarily advisable, but it can be useful in the right circumstance.)

Again, those are just a few. But those are also not things every buyer can accommodate.

So, what we always recommend to every buyer is this…

Let’s have everything in order when we submit an offer:

• Let’s make sure all the contracts are filled out thoroughly and properly.
• Let’s have your pre-approval ready and attached to the offer. (Ideally from a reputable lender that no agent or owner will question.)
• Let’s be ready and responsive during negotiations. (Too often, buyers take too long responding, which can create a bad tone.)

That sort of stuff we can control, and we should.

Many times, the agent who is the most organized and reliable, along with their clients who also appear organized and reliable, have their offer accepted simply because a seller or their agent trusts that the deal will be smooth and close on time. We have seen this pay off even if it isn’t as much money as they may be offered by someone else in multiple offers.

Clients have asked us if a letter would help. We recommend against it. With all the new rules on protected classes and what you can and cannot say, it’s better to leave the talking to the terms of your offer. In fact, writing a personal letter is against the law in some states, like Oregon. Present a strong offer and win them over that way.

So, when it comes time to make an offer, let us make sure we put our best foot forward, even beyond the amount you are offering. It can truly pay off in the end.