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When writing an offer there are tactics that can be used to help seal the deal.
As your “buyer’s agent,” I can usually find out information from the seller’s agent to try to find out what exactly those needs are. It may not all be out about the selling price, either.
For example, it could be that the seller has to find suitable replacement property or that the seller may require that they continue to live in the home a little while longer. By offering a free-rent back period would be a solution that the other agents may have missed.
In a multiple offer situation, by offering the seller free title insurance or by helping
paying for some of their closing costs can make our offer more attractive to the seller.
Personalizing the offer can also make the seller feel more comfortable and secure.
When reviewing several offers at the same time, if we can submit a nicely written letter attached to our offer, this can go a long way in attracting their attention. This forges an emotional connection that the other agents may have missed.
To inspire confidence, the letter could also explain that you – as the buyer’s – have realistic expectations about the home and are prepared to do a little work.. And, if necessary, will spend the money to make it right. This shows that you really want to buy the house and that you won’t regret the decision. Knowing that the your purchase will be trouble-free without any problems or delays will help cement the deal.
When trying to purchase a property that has attracted a lot of attention from other buyer’s and agents I usually suggest my client to bid an odd-numbered amount. For example, if the home is priced at $775,000 and you know it’s going to be overbid, the next logical bid most agents will suggest their clients to bid at is $780,000. In this situation I would suggest bidding slightly higher in an odd-numbered amount such as $783,575. I love to negotiate the other way – downward – however, if it is the house your really want the difference over the life of the loan is minimal. The object is to own the home and not come in second or third.
One last thing, when making the offer don’t let some small detail ruin the purchase. If the seller really wants to remove the dining room chandelier or light fixture, as an example, let them remove it. Some clients will hold up or break a deal, and the bottom line is that the object is to buy the home. Don’t let something like this be a deal breaker!
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