Home Buying in Madison>Question Details

Dreamer, Home Buyer in Madison, WI

How does earnest money factor in to securing your offer from a seller?

Asked by Dreamer, Madison, WI Sat Jan 21, 2012

We are looking to buy a house that has only been on the market for one month, but don't want to pay full asking price. It seems like a great value, so we're hoping that with a pre-approval and earnest money the seller will be more willing to sell.

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Dreamer, money is what holds it all together. In addition if your deposit is large enough you would be sending a subliminal message to the seller/owner you are a serious, pre-approved and willing buyer. That means a lot to a seller who is also making moving plans. Knowing that unless something unforeseen happens they can count on that transaction closing.

Check with your representative the best way to approach this property. Also writing a personal note/letter to the owner stating how much you want their home, but can not pay their asking price can go a long way dreamer. Sometimes a seller wants to be pleased overall with the next owner of their home. It isn't only money.

Best of luck,

Rob
0 votes Thank Flag Link Sun Jan 22, 2012
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