How To Make Your Offer Stand Out
In today’s market, it’s not uncommon to be in competition with several other buyers for your dream home. When you find that perfect house, with the chic chandelier and the doggy door for Fido, the last thing you want to do is lose it because your offer didn’t stand out to the seller, Taking the time to put forth a well-written offer can work wonders for a buyer. Each seller and agent may have different opinions on what makes the best offer, but here are some that we’ve found are the most consistent:
1. Include a pre-approval.
If you want to show the seller that you’re serious about buying a home, get pre-approved before you ever sign an offer. Not only does it show that you didn’t just waltz up, see the for sale sign and throw something out there, but it also alleviates some of the seller’s worries that you’ll back out when the bank finds out your credit isn’t actually as good as you thought it was. Be sure to include that pre-approval letter from the bank with the signed offer.
2. Make a decent earnest money deposit.
When you’re sure you can’t picture yourself without this house, be ready to boost your earnest money deposit. Earnest money shows the seller that you’re putting your money where your mouth is, and you’re prepared to give up that chunk of cash if you back of the contract for any reason other than those allowed under the contract terms. There is usually a typical amount offered for your area, so if you really want to look good, go above and beyond that amount.