👍How to Make Your Home Offer Irresistible to Sellers

Your bid needs to stand out when you’re competing with a lot of other buyers.

In markets with houses in short supply, sellers have the advantage over buyers. This often results in bidding wars among buyers vying for the best properties.

You may need more than just money in order to buy the Charlottesville VA home that you want. You must give sellers enough reasons to pick your offer over offers from other bidders. Your purchase offer should persuade sellers that you are a serious buyer who will give them most of what they want.

Here are some ways to make your home offer stand out:

 

1. Cash Is King

If you can buy a Charlottesville VA home with a full-cash offer, you will have an advantage over other offers with mortgage requirements.

Sellers love all-cash offers since they’re less likely to fall through before the sale closes. This is because there aren’t any issues involving mortgages, the escrow closes faster, and there is no appraisal requirement.

2. Get pre-approved

If you can’t pay cash, you’ll need to get a mortgage.

Check your credit reports three or four months before you start looking for homes for sale in Charlottesville VA. That will give you enough time to correct any errors and take steps to improve your credit score. You can get your reports once a year free from the three major credit bureaus at www.annualcreditreport.com.

Don’t bother submitting an offer on a house without a loan pre-approval in hand. A pre-approval letter from your mortgage broker or bank confirms that you can borrow enough money necessary to finance the home. It shows a seller that you’re not only qualified but also prepared and serious about purchasing their home.

3. Get the sellers to like you

To improve your chances of winning the bid, let the seller know why you want to live in the property they once called their home.

The old-fashioned letter is still one of the most useful tools for buyers these days. This will help you connect with the sellers, especially if you haven’t met them.

If the sellers love the home, they are more inclined to give it to someone they have more in common with. It’s the human factor. If you are not sure what to write to the seller, just let them know how important the house is to you, how special it is, and how you plan to take good care of it.

4. Give the gift of time

Be willing to work with the seller’s timetable to go to closing. Generally, closing takes place within 30, 45, 60, or 90 days.

You can customize the length of the closing in order to meet the seller’s need. This strategy has been proven effective many times. If the sellers want to remain in the home for a while after closing, offer them a “lease back” or “rent back”. This is legal arrangement and you will become their temporary landlord. If you are bidding on a short sale, let the sellers know that you are patient and can wait for the bank’s decision.

 

Making an offer on a home may seem daunting, but it doesn’t have to be. As your agent, I can help you craft a strong offer. I will not only guide you, but also go the extra mile for you!

Call me, Pam Dent, at 434-960-0161. I can help you find the best home that suits your needs. Let’s get started!