5 Ways to Write a Winning Offer in Today’s Real Estate Market
Our nation is in the midst of a shifting real estate market. But even as the buying frenzy begins to slow, many properties are still receiving multiple offers. 1
So what’s the best way to compete as a buyer–especially if you’re wary about overpaying?
While a high offer price gets attention, most sellers consider a variety of factors when evaluating an offer. With that in mind, here are five tactics you can utilize to sweeten your proposal and outshine your competition.
I can help you weigh the risks and benefits of each tactic and craft a compelling offer designed to get you your dream home—without giving away the farm.
1. Demonstrate Solid Financing
The reality is, no one gets paid if a home sale falls through. That’s why sellers (and their listing agents) favour offers with a high probability of closing.
Sellers particularly love all-cash offers because there’s no chance of financing issues cropping up at the last moment. But all-cash offers are rare, and if sellers are assured that financing will come through, buying with a mortgage doesn’t have to be a disadvantage.
The most important step you can take as a buyer is to get preapproved before you start looking for homes. A preapproval letter shows sellers that you are serious about buying and that you will be able to make good on your offer. 2
It’s also important to consider the reputation of your lender. While sellers may not know or care about a lender’s reputation, their agents often do. Some lenders are much easier to work with than others. If you’re unsure who to choose, I am happy to refer you to reputable lenders known for their ease of doing business.
2. Put Down a Sizeable Deposit
Buyers can show sellers that they’re serious about their offer and have “skin in the game” by putting down a large deposit. This, however, is not the same as a down payment.
The deposit is...