How to Write an Attractive Offer

Due to the current nature of the real estate market, it’s imperative that realtors know how help their buyers write attractive offers….especially when in multiple offer situations.

Here are some tips:

1)      Call the listing agent and ask if the sellers need to close soon…or if they need time to move out and find a place.  Ask what an ideal closing date looks like for them.

2)      Write a cover letter for the offer in the body of the email that contains the offer.  Many times listing agents will forward these cover letters to their sellers.  An effective cover letter goes a long way.  You can mention how your clients are prequalified, how they love the home and the area, how their children go to school at the area school, how their relatives live down the street….whatever important facts that shine the best light on your buyers situation.

3)      Always include a prequalification letter and copies of the checks with the offer.

4)      Call the listing agent prior to submitting offer to ask for best way to send the offer or better yet, present the offer in person.

5)      Call inspectors to check if they have immediate availability and, if so, shorten the option period.

6)      If the buyer is confident in their financing, increase the amount of the earnest money.

7)      If the buyer has the flexibility of closing and moving in several days later, offer the sellers a temporary leaseback to ease the burden of potentially needing the funds to close on their future home.

8)      Shorten the number of days for the buyer to object to issues with the title policy or survey.  7 days is great to have in the contract, but often times 3 days is sufficient to review the documents and notify the seller of issues.

9)      Accept the property in its present condition and do no ask for repairs.  Sellers do not like doing repairs upfront before a buyer closes due to the risk of the home not closing.

10)   Write a clean offer.  Do not leave any blanks undone and always type the contract – no handwriting.

11)   Request that your buyer’s loan officer directly call the listing agent to relay how qualified the buyers are to purchase the home.

 

Christine -

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