May 30, 2018 | Iulia Zecheru

5 tips for making an offer

It’s a seller’s market due to scarce inventory, low unemployment rate and very good interest rates. Buyers these days have a hard time getting their offer accepted. It may seem impossible, but following these 5 tips for  making an offer will make this stressful process much easier. Follow these tips when making an offer and you’ll increase your chances to get your dream house faster.

1. Offer a little more than the asking price to show good intention and that you are a serious buyer;

2. having at least 20% for down payment will reassure the seller that you’ll not change your mind. The bigger the down-payment, the better your chances;

3. Shorten the contingency period from 17/21 days to 10/17 days. Having the inspection as soon as possible will show the seller how serious you are about purchasing their home. In this way, if you are not happy with the condition of the house, the seller can put the house back on the market without too much delay or costs;

4. write a personal letter that includes a family picture and express your motivation for buying the house. Don’t forget to give details about your family and your reasons for choosing this home. Let the seller know of your intentions with the house and how you envision your family’s future life in the house.

5. include your lender’s pre-qualification letter and have him contact the listing agent to reassure them of your financial capability. It’s always better to have a direct lender instead of a mortgage broker because of their flexibility. Also, having a very good/excellent credit score and financial stability are some important factors for a seller.

In conclusion, these 5 tips for making an offer will hopefully provide you with the tools to be successful.

Buyers