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Trulia Phoen…, Home Buyer in Phoenix, AZ

What are some ways to sweeten an offer on a home?

Asked by Trulia Phoenix, Phoenix, AZ Thu Jan 17, 2013

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A few easy ways are submitting a cash offer, increasing your earnest deposit, NOT asking the seller to pay for closing costs as part of your offer, and having a quick close of escrow. Your REALTOR should be able to guide you when making an offer. If you don't have a REALTOR, please feel free to give me a call (602) 803-6394 and I would be happy to assist you!
1 vote Thank Flag Link Sun Jan 20, 2013
Enhances offers often include:

1. Cash offers

2. no contingencies

3. quick closing date

4. significant escrow money
1 vote Thank Flag Link Fri Jan 18, 2013
In addition to suggestions offered by my peers - all good/effective - it's impossible to underestimate the value of having a "go getter" agent. This sounds like I'm promoting myself, which I am :-) ... but a professional and proactive buyer's agent can make a world of difference in whether your offer is considered and/or accepted. I reach out to the listing agent to introduce myself and my clients, let the agent know an offer is coming and when to expect it, and I sell my clients to the agent. In other words, something like this: "my clients are well qualified and have been pre-approved for a conventional loan by a mortgage bank (this tells the agent that the closing is more likely to occur on time); this will be their primary residence; they are leasing and do not have to sell a home to qualify, etc." When I submit the offer, I use a forwarded copy of my introductory email as a transmittal. "As promised, here is the offer from Mr. and Mrs. Buyer. In addition to the qualifications previously described, you will see the offer includes a shortened inspection period, offer to take the property as-is (or whatever the buyers have decided to do)." A courteous and informative chain of messages - follow up as promised - and making my buyers seem like real, human people has often made the difference. A seller may receive many similar offers. It's my job to make my buyers stand out from the pile of paperwork. I'll often include a compliment about the property if it is genuine (my clients think the kitchen is wonderful - it is so beautifully remodeled and since they both like to cook it would be perfect for them). Nothing fake or phony - but a genuine compliment will be recognized and appreciated. Good luck with your offer... I hope you are successful!
1 vote Thank Flag Link Fri Jan 18, 2013
All good suggestions below - a strong agent will help
0 votes Thank Flag Link Fri Jan 18, 2013
I guess the best way to "sweeten" an offer is to find out what is most important for the seller and offer it. In most cases, money is the most important consideration. However there are instances when the seller is also concerned with other factors. I had a seller once that was willing to take a little less for his property as long as the buyer agreed to let him stay for an extra 2 months until his new house was ready.

The challenge that buyers have is that they usually don't know what is really important for the seller and they end up assuming that money is the key.

Jose Dias, REALTOR | (623) 418-5700 | Jose@MyFirstHouseAZ.com | http://www.MyFirstHouseAZ.com
0 votes Thank Flag Link Fri Jan 18, 2013
You can ask for a short close of escrow, structure your offer with an As Is addendum, waive the inspections on the home, waive the appraisal contengies, offer above list price, make a large earnest deposit, buy your own home warranty, pay your own lender fees, or make the earnest money refundable.
0 votes Thank Flag Link Fri Jan 18, 2013
Raise your offer! Pay cash/raise your down payment. Increase earnest money. Be flexible with closing date. Don't ask for seller concessions. Remove any contingencies.
0 votes Thank Flag Link Thu Jan 17, 2013
All the things the agents below said AND a box of See's for the seller AND seller's agent...
0 votes Thank Flag Link Thu Jan 17, 2013
Right now, in this sellers market, a straight forward offer, no games, don't ask for closing cost credits, don't have your agent write a dumb lowball offer...in other words, write your best offer going in because you don't know when another offer is coming in and what you're competing with. You may only get one shot at it.
0 votes Thank Flag Link Thu Jan 17, 2013
There are many different offers that appeal to different Sellers. My recommendation is:
Make sure you are offering a fair market value on the home
Make sure you have pre-approvement for loan above the amount of the home / offer price.
Give a fair earnest money, $5k on homes below $300K, $10K on homes up to $500K, etc.
Make sure you have professional, honest representation. Your Realtor needs to be professional, no games.
You want an inspection but don't be over demanding.
Work with a Realtor that will advise you and has strong negotiation skills.
Be flexible on closing and possesion day.
Good luck. http://www.jordanteamaz.com
0 votes Thank Flag Link Thu Jan 17, 2013
I would shorten the inspection period, raise the earnest money as high as you can afford and offer to close as quick as posible. Much other than that your putting yourself at risk.
0 votes Thank Flag Link Thu Jan 17, 2013
Hi,

Some ways to sweeten an offer might be to increase the amount of the earnest money, make the earnest money non refundable, shorten the inspection period, waive the inspection period, waive the Seller's proeprty disclosure statement, waive the insurance claims history report. shorten the escrow period ( AKA short close), offer to purchase "AS IS". However many of these need to be given serious thought to before offering it. Sometimes it is just not a good idea.
0 votes Thank Flag Link Thu Jan 17, 2013
Asking for less seller concessions, putting down more earnest money, and in the case of bank owned properties- using the bank that owns the property as your lender.
0 votes Thank Flag Link Thu Jan 17, 2013
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