I have found that some of the answers may not even be related to money - 'someone who will enjoy our home as much as we have' has been one. Other times it may be closing timeframe. And yes, some we can not battle - all cash vs VA.
I know this sounds trivial, however if you give a listing agent a very strong offer, proof of funds, and minimal contingecies, (without jeprodizing you buyers)
Letters about your buyers often don't work. Most sellers are focused on the bottom line and are not interested with the "who"
2. Consult with the buyers to make sure they really grasp this market
3. Clean, well written offers with proof of funds or recent approval letter subject to appraisal and clean title.
4. Follow up after emailing offer (better yet, hand deliver the offer with a bundt cake or something that makes it stand out).
5. Earnest money in the 10% range if possible
6. Let the listing side know that you're not just out writing a bunch of offers
7. Draft a quick story about your buyers and the life they want to create in that home
8. Do comps and justify why your offer is solid, not crazy over list price and right in line with an appraisal.
9. Address any issues with the home up front and what your buyer is prepared to do should a problem arise.
10. Keep the ego at the door and create a win win for all parties.
Solutions Real Estate
What I wanted to see in that purchase offer was....
"THE ASSURANCE THE SALE COULD BE COMPLETED!"
That means....minimal contingencies.
FHA? Address the appraisal gaming that will occur.
Conventional? Demonstrate closing date flexibility.
The lower offer WAS accepted because of the "POTENTIAL" cost incurred if a higher offer fails to meet the closing date or attempts an ambush the owner later.
An 'outside the box' offer would articulate the compensation to the seller if that Utah lender fails in meeting their obligation. It's not always the price, but assurance is golden.
It's dog eat dog out there. The best way to get consideration I have found is to be aggressive and draft a letter to seller stating how much you love the property and how perfect it is for your family, etc,etc. i am finding that works fairly well and tugs at seller heart string !!!
1). I was the lender (LOL!)...I do not do any prequals. Ever. My Company is well respected and well known.
2). Offer was submitted with AUS (automated underwriting file) evidencing that everything in my preapproval letter was supported and evidenced.
3). Offer submitted with full 3.5% down payments as EMD or, in the case of VA, full 3% EMD to show evidence of closing costs/prepaids.
4). A very personal and specific letter about the borrowers, their thoughts and dreams for the home and their desire to have THAT particular home.
This very personal way of submitting offers has worked successfully in both NoCal and SoCal. Even my Team was blown away by the offer and the letter/EMD.
I can help you with Number 1!!!! :-)!!!!
Best of luck,
Best of Luck,
Century 21 tenace
When I am on the listing side, I cringe when I get a handwritten offer which has already been faxed a few times and is no longer legible or incomplete.
For traditional sales -
Short inspection timeline and state in the RPA that the buyer will not request any repairs or a repair credit. If an inspection reveals something that was not obvious or disclosed, the buyer can walk (nothing new there). If there is nothing significant discovered, the transaction moves on. The RPA already states the sales is an "as is" transaction but too many agents try to renegotiate after the home inspection. Making the intention known before the offer is accepted would go a long way to show the seriousness of the buyer.
For short sales - I'm not going to share my secret on that one. ;)