Get pre-approved & provide proof with your offer. Before even looking at your next dream home this should be the first step. This allows you to show the seller of a home that you have the financial means to back your offer. But also it will give you and your real estate broker a budget to work within.
Offer more earnest money. Offering 1%-2% is common when offering earnest money, however offering more can indicate to the seller that you are serious. Just keep in mind that this money can be at risk if you back out. Discuss with your broker writing contingencies into the offer that can protect you.
Find out why the seller has listed the property. Sometimes price isn’t the only motivation for a seller. This is where your expert real estate broker help you find out if the sell may accept a shorter close or if buyer is willing to forego repairs.
Make the offer as clean as possible. When your broker writes your offer be transparent about what you can and can’t do. If you need to sell your current house first let your broker know prior to writing offers so that they can be clear and concise when writing your offer.
Submit a letter with youroffer. This is the way to give your offer a personal touch. It doesn’t have to be formal. You can simply explain your intension for the home. Buyers will even include a family photo to show who will be living in the house. This has been a great debate in the State of Oregon. On June 8, 2021 House Bill 2550 was passed that banned these letters. However a federal judge ruled this bill was unconstitutional because it infringes on the First Amendment Rights. This is something you can discuss with your real estate broker.
Consult with your Real Estate Broker! The last tip and possibly most important is to work with you real estate broker and consult with them prior any showings. This way when you find that dream home; you are prepared to make the offer that is accepted.
