More buyers are competing for a smaller number of available houses in today’s seller’s market as home prices climb and inventory levels remain low. Making a flawless offer is crucial to successfully getting the home in this market. So what characteristics make your proposal different from the rest?
Obtain Prior Approval
Having your mortgage preselected shows the seller that you have the financial means to buy the house. This demonstrates to the seller that you’re not really only financially able to purchase their property, but that they are also well-prepared to do it and are not playing around. Another bidder may offer a higher price, but if they’re not prequalified, you have the upper hand.
Talk to a Real Estate Professional
Need some help making a winning offer on a home? Before making an offer, you should first meet with a real estate agent. In a seller’s market, it’s especially important to make a good first impression. First, you should research comparable house prices in the area to get a feel for the property’s market worth. During offer negotiations, time is of the essence, so be prepared with a solid counteroffer if your original proposal is rejected.
Capable of Change
Closing on terms that are more convenient for the seller might frequently win out over a greater price. In most cases, sellers want a quick closure, often within 30 days unless special circumstances apply. Acting to satisfy them makes a significant difference if their new home will not be available for sixty days.
Conditional on a “As Is” Assessment
Including a “as is” inspection clause in your offer will help you get the necessary time to conduct a thorough evaluation of the property. Buyers may learn more about the property’s condition, and sellers can be certain that no maintenance requests will be made, thanks to this clause. The buyer is free to accept the house “as is” or walk away if the inspection discovers problems.
Get in someone’s face
Selling a house could be just as great of a choice as purchasing one, and several sellers would like to ensure that they’re leaving their property in excellent hands. A heartfelt note to the owners explaining why you like their house and promising to handle it with care is often appreciated. Your unique approach might be the determining factor if other bids are being considered by the seller.