4 Ways to Get Your Offer Accepted
In a competitive market, home buyers must be creative to effectively compete against other buyers. There are many different ways to get your offer accepted, such as adjusting the terms of your offer to directly appeal to sellers. Here are a few ideas.
1. Waive the Home Inspection
Yes, it is possible to waive home inspections. This option, of course, should be used with caution. It's best for buyers with a trained eye for home repairs/issues and who are not adverse to some risk. Additionally, if a home is meticulously maintained and updated, it may be less risky.
2. Don't Ask for Extras
Sellers will typically list appliances that are included, excluded, or negotiable. To make your offer more appealing, it may help to avoid the negotiable items. Furthermore, it's best not to ask for extras (such as patio furniture). Although these items may look beautiful in the home and would be something you'd love to keep, mentioning them in offers can put you at a disadvantage in multiple offer scenarios. Keep your offer clean and simple when competing against other buyers.
3. Accommodate the Seller's Timeline
Most sellers have certain closing dates that work best for them. If you are able to adapt to their preference, your offer will look that much better. Before writing up your offer, be sure to have your agent ask for any preferences that the seller may have when it comes to all aspects of the offer, including the closing date.
4. Offer to Pay Seller's Closing Costs
We often see buyers asking sellers to contribute to their closing costs, but the reverse is possible too! One creative approach is to offer to pay a certain amount of the seller's closing costs. Why is this any different than a higher sales price? Some of a seller's expenses (such as commission and transfer tax) are based on sale price. By having a lower sale price, those expenses will be less. Thus, the net earnings for the seller will be more!
Additional Ways to Get Your Offer Accepted
Depending on the property and seller's circumstances, there may be other ways to get your offer accepted. Work with your agent to identify terms that may appeal to a seller. Taking a creative and personalized approach to your offer can be just what you need to beat out other buyers.