How To Write An Offer That Sellers Will Love

Written by Posted On Sunday, 05 May 2019 21:58

Why should you care whether or not a seller loves your offer? It’s because there isn’t that much good property for sale in Nanaimo. So, if you don’t write an offer that the seller loves the odds are another buyer will.

You’ve spent a lot of time and energy looking at homes for sale in Nanaimo and have finally found one that you love. To make sure another buyer doesn’t steal your dream home from you, here’s how to write an offer that sellers will love.

Hire a buyers’ real estate agent

Sellers have a listing real estate agent to represent them, so it makes good sense for buyers to have an agent to represent them. A buyers’ agent specializes in working with buyers and has a strong referral network for other professional services buyers need like lenders and inspectors.

Attach a preapproval letter with your offer

A preapproval letter means a lender has examined your credit qualifications and is willing to put in writing that you can afford to buy the house you’re writing an offer on. Submitting a preapproval letter with your offer shows the seller you’re serious - and qualified - to buy their home.

Write your very best offer first

This is especially true if you’re in a seller’s market. Sometimes buyers make the mistake of writing a low offer hoping the seller will counteroffer. But if multiple offers come in on the property for sale in Nanaimo that you want to buy, you could easily end up losing out. That’s because many sellers won’t consider low offers and simply file them in the ‘reject trash basket’.

Money talks, so make a big deposit

Your buyers’ agent can tell you what is customary for a deposit in your market. If 1% of the purchase price is normal, writing an offer with a 3% or even 5% deposit is sure to grab the seller’s attention. A bigger deposit doesn’t mean your money is at risk. If you are unable to satisfy your subjects or conditions on your offer then your Realtor will have you sign a release. The seller will then sign it and your deposit should be released back to you.

Cash is also king

Making an all-cash offer is another way to write an offer that sellers will absolutely love. You can still obtain a loan to buy the house. But with an all-cash offer, you can’t use the financing contingency as a reason to withdraw from the offer and get your deposit returned.

Shorten your inspection periods

Sellers also love offers that have faster than normal subject removal. Most real estate contracts in Nanaimo often have conditions with a 10 day to a 2-week time frame in order to remove subjects. So, if the norm is 10 days for an inspection, saying you’ll have your home inspection finished in 5 days is a great way to let the seller know you’re serious and ready to move quickly to get the transaction closed.

Let the seller know you can close quickly

Writing an offer with a fast closing date is also attractive to some sellers. This is a good area where your buyers’ real estate agent can help. She can find out from the sellers’ agent if a quick close is a hot button for the seller. Remember, sellers, don’t always want a quick close. If they’re downsizing they may need some extra time to pack or to find another place to live after you buy their home for sale in Nanaimo. In other words, be flexible with your closing date and try to accommodate the seller's preferred dates.

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