4 strategies to make your offer stand out
By Katrina Arkley | 3.5 Minute Read
In today’s market, it’s not uncommon to be in competition with several other buyers for your dream home. When you find that perfect house, with the chic chandelier and the doggy door for Fido, the last thing you want to do is lose it because your offer didn’t stand out to the seller. Taking the time to put forth a well-written offer can work wonders for a buyer. Each seller and agent may have different opinions on what makes the best offer, but here are some that we’ve found are the most consistent:
1. Include a pre-approval
If you want to show the seller that you’re serious about buying a home, get pre-approved before you ever sign an offer. Not only does it show that you didn’t just waltz up, see the for-sale sign, and throw something out there, but it also alleviates some of the seller’s worries that you’ll back out when the bank finds out your credit isn’t actually as good as you thought it was. Be sure to include that pre-approval letter from the bank with the signed offer.
2. Remove all the conditions you can
Having two mortgages while trying to sell the home you’re in now isn’t really a dream that anyone has, but if you have the cash to do it, it’s going to make your offer more desirable. Anytime you can waive contingencies in the contract, like the sale of your current home, it gives the seller more confidence that the deal will go through without a hitch. Another option would be to shorten the typical time periods. If it’s customary for your building inspection period to be 14 days, shorten it to 7 to let the seller know you’re looking to make this happen quickly.
3. Make it your best
When you’re up against multiple offers, don’t waste a lot of time expecting to negotiate. Base your offer on solid research of surrounding comparable sales and really offer what you’d be willing to pay. If you don’t, your offer may be tossed aside for others that did. This includes more than the price, too. Try and get a building inspection done before submitting an offer.
4. Get personal
It’s time to let the seller know why you’re dying to buy their house and be honest. Is it because you want to raise your family in the neighbourhood? Do you see Fido rolling around in the big, fenced backyard? Connecting with the seller and creating a sense of relatability can go a long way but avoid sounding desperate. The idea is to keep it short, simple, and honest, and don’t forget to have your agent proofread it. Don’t hesitate to go out of the box to make your offer stand out to the seller. It may end up getting you your dream home.
DISCLAIMER: The information on this website is not legal or professional advice and therefore is intended as a guide only.
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Words by Katrina Arkley
Images by Fall Real Estate
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