You know that feeling. Your buyers love the property, there are competing offers and, once again, their offer isn't chosen. You're back to square one hunting for an acceptable home so you can start the process all over again.
With inventory at historic lows in many parts of the country we have to think creatively and write highly competitive offers. Here are 3 tips to make your offers stand out.
1. Buying a home takes a team and the loan originator is an integral part of that team. Play that up with your offer by having the loan originator present a letter of introduction. It should highlight their company and experience to assure both the listing agent and seller that this loan will get done. This has been a tipping point in a buyer's favor and loan originators are glad to participate.
2. Keep your dates tight. A well written contract conveys your professionalism and a message to the seller that the buyer is intent on buying this home. Inspections should be completed and resolved within 10 to 14 days and the loan application already completed. With a completed application the lender should be able to write a stronger pre approval letter with the offer, not just a pre qualification letter.
3. Buying or selling a home is frequently an emotional experience so celebrate that. A simple letter from the buyer to the seller explaining why this is the house for them can make the seller feel connected to your buyer and want them to have the home. Including a picture is always a nice touch!
