Tired of Rejection? These 6 Tips Will Help Make Your Offer Irresistible
Picture this... You finally found "the one", you submit an offer with high hopes, only to find out that your offer has been rejected. Sometimes you just get beaten by a much higher price, but sometimes it's other elements of your offer that cost you the house. Here are 6 ways to make your offer irresistible.
Keep your offer simple
As agents, it's our job to use certain clauses and conditions to protect our Buyers, but there is absolutely such thing as too much protection. In an effort to protect their Buyers, some agents will draft an offer that is so heavily slanted towards protecting the Buyer, that it's impossible for a Seller to accept. It's important to be protected, but it's also important to understand that you want the Seller to accept your offer. When drafting your offer, it's important that your agent tries to strike a happy balance to make sure you're protected, but you haven't gone overboard with your demands.
This can also be important when choosing your inclusions. Try to avoid asking for a lot of extra items that were not included in the listing. If it's not that important to you, don't ask for it.
Write a love letter
Yes, it's cliché. It may even be corny. But here is the deal with love letters: they never hurt your chances, and they sometimes help. At the end of it all, money usually is the deciding factor in an offer presentation, but when you're tied with someone else as the top offer, giving the Seller insight into who you are, may help seal the deal!
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Get in early
The best way to win in multiple offers is to avoid multiple offers. When you see a house you love, get in on the first day. If you really like the house, have your agent check to see if the Seller will entertain a preemptive offer. It may feel a little pushy or aggressive, but in a hot market, the squeaky wheel gets the grease!
Start with your best foot forward
If you know your offer is going to be competing with others, go in with your best possible offer first. Don't leave anything on the table. It's everybody's natural inclination to try and get a house for the best price or to try and negotiate, but we've seen too many clients miss out on a house they love by doing this. Cut to the chase and submit the best offer that you can right away!
Offer the strongest possible deposit
Deposits show the Seller how serious you are. In a hectic market, they can give the Seller the confidence that you've got your ducks in a row and that you're ready to buy. Similar to the love letter, a deposit doesn't always mean much, but if it's a close call, it could be the difference-maker.
Remember - your deposit gets applied to your down payment on closing.
Find out what's important to the Seller
Have your agent call the other agent and ask some crucial questions. Maybe the Seller has a specific closing date they need or a clause that will put them at ease. Find out what's most important to the Seller so that you can create an offer that suits their desires. Remember that Sellers have fears too. If possible, write an offer that puts their mind at ease.
We're here for you
Whether you've experienced rejection already, or your nervous that you will, one of our agents would be happy to have a strategy session with you to make sure you're all set to buy the house you've been looking for!