WHAT TO INCLUDE IN THE OFFER TO MAKE IT MORE APPEALING
Pre-Approval Letter: Include a mortgage pre-approval letter to show you're financially capable of purchasing the home. Consider Sellers Circumstances: Find out what is important to the seller and be sure to take their desires into account when making your offer. Flexible Closing Date: Being flexible with the closing date can be attractive to the seller, especially if they need time to move out. Higher Earnest Money Deposit: A higher deposit can show your serious commitment to the purchase. Minimal Contingencies: Fewer contingencies make the process smoother for the seller. However, don't waive essential ones like the home inspection if at all possible. Shorten Time Periods: Don’t feel comfortable waiving a contingency, consider shortening the time frames to give the seller more confidence. Cover Some Seller Costs: Offering to pay for some of the seller’s closing costs can make your offer stand out.
Personal Letter: Consider including a personal letter expressing why you love the home. This can resonate with the seller, especially in competitive markets. Make sure you keep it generic and don’t break fair housing laws (I’ll guide you). Escalation Clause: In a competitive market, an escalation clause can automatically increase your offer if there are higher bids, up to a maximum amount. Rent-Back Agreement: If the seller needs time to find a new home, offering a rent-back agreement can be appealing.
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