When you're in competition on a property and there are several offers already in...what can you do other than price to get your offer accepted? Since everybody now seems to be sending in offers via email ask if you and your agent can present your offer in person to the seller and their agent. Many agents today have never presented an offer directly to the listing agent or seller and though this request may be dismissed, it is a great opportunity to connect real people to a real offer and make an impression! If this tactic is not available to you then write a cover letter to the sellers and have it be the fiirst page (cover letter) to your offer. Again, you want to make an impression to the sellers and hopefully make a connect or find something in common with them that will make your offer stand out!
Many buyers now will also decide to do "pre-inspections" of properties and make an offer with no inspection contingencies. Sellers want to know they have a strong offer that will stay together. If you can knock this issue out before you make your offer the seller will appreciate this and know you're putting your money where your mouth is. The same situation exists with financed offers, if you're needing to get a loan. How solid is your loan, are you really approved for a loan or do you have a buddy who just punched out a letter for you because you asked for it? Cash offers usually don't have a loan or appraisal contingency. You probably need one if you're getting a loan. How about needing a loan and having no loan contingency in your offer? If you're really ready to go with your loan and you're willing to cover the difference (if any) betwwen what you offer and what an appraisal might come in at you can do this.
Show the seller the money now! Most offers may have an initial deposit of $1,000 to up to 3% of the purchase price. In the California purchase contract the amount a buyer is liable for in worse case situations (liquidated damages) is 3% of the purchase price. If you're putting 20% down on a $500,000 home that's $100,000...why not have your offer with an initial deposit of $100,000? Got find a color copier and blow up the size of your check to the full size of the paper and add it to your offer. How many times have you seen an initial deposit of $100,000? Does it seem like the seller needs cash now for their move or to secure their next property? How about adding into the contract that "buyers to immediately release $5,000 of their initial deposit upon acceptence" so the sellers will actual receive some cash now, might that help sweeten things a bit?
These are just a few "tricks of the trade" that you may want to consider (and there are more) that you can use to get your offer noticed and accepted.
