Writing a strong offer is not just about price. How badly does the buyer want this specific home? What is the status of your finances? Do you have a real estate agent to help with the process? All of these questions are important before writing an offer on a house.
If you have found your dream home, will you be kicking yourself if it is gone before an offer is written? We do not want anyone else picking up this home before you have the opportunity to. If you don’t get this house, what happens next? The offer needs to be as strong as the buyer is comfortable with.
Once the desire is quantified, price is the next step. The agent’s job is to provide a price that makes sense. That includes looking at the home through the eyes of an appraiser. What is the home truly worth and what is the current market? Next, assume a counter offer. If the buyer is intent on buying this specific house, the offer should be strong and not too low. Yet, the seller may have over-priced it and a full-priced offer is not necessary. The buyer’s agent will work through all of those variables.
Before the offer is presented, make sure that all finances are in order. A copy of the pre-approval letter and a security deposit need to be included with the offer. A strong down payment is important – it shows the seller that the buyer has cash. If you don’t need to, don’t ask to finance closing costs. The seller is interested in the bottom line. What will they walk away from this sale with? Keep the offer clean! Do not ask for the sofa, curtains or the painting by Aunt Gertrude. The cleaner the offer, the easier it is for the seller to accept.
Have your agent physically present the offer, or at least have a conversation about it. A lot of business is done over e-mail these days, but that takes away the personal component. It is the job of the buyer’s agent to represent the buyer’s interest. Having an advocate to tug on the heartstrings of the seller can help solidify the offer.
Spica Real Estate agents are trained to assist buyers in finding a home, working through desire and finances, and being your advocate. If you have more questions about how to write an offer on your dream home, contact Spica Real Estate.