Putting in an offer on a house is much easier in a buyer’s market. However, today’s market favors the sellers. Many homes receive multiple offers and sell for above asking price. Without a strategy and an experienced, local Realtor® you may not get your dream home. Here are some tips that will help you secure the house you love.
Divulge Information
When you make an offer, the more information you include in that offer, the better. For example, if you’re flexible on closing, let them know that through your Realtor. This might mean you could close quickly or you are willing to have a long closing or even rent the property back to the current owner for a time. Even if your offer isn’t the highest offer, because you put forward something else they may want or need, you may get the house. If you feel connected to the house, write a letter about your family and how you see yourself in the home to provide to the sellers. It may even benefit you to have your Realtor call the listing agent and communicate the offer and any other relevant information verbally rather than just through email.
Offer More Earnest Money
Buyers may commonly put about 1% of the purchase price down in earnest money; however, the more you offer to put down, the more serious you appear. If you have available cash and are willing to pay more for the house than what it appraised for, also offer to bring cash to closing to cover the difference. Both of these can sway a seller to choose your offer over another.
Limit Contingencies
One of the easiest things you can do as a homebuyer is to eliminate is financing issues ahead of time. Pre-approval shows that you won’t have issues with obtaining financing. If you currently own a home and the sale is not needed to purchase your new home, you can remove the contingency of selling your current home. However, there are many other contingencies you can waive. Although we won’t recommend skipping a home inspection, you can agree to waive any issues discovered other than discoveries pertaining to the structural integrity, termites, or other health or safety issues.
Work with an Experienced Local Realtor
An experienced local Realtor, like the Jason Duraj team at Future Home Realty, can help you submit the right offer and communicate with the listing agent throughout the negotiations. Jason Duraj and his team know the market and will work with you until you get the home of your dreams. Call us today for a confidential consultation at (813) 992-7771.
