Finding a home to purchase can be both exciting and stressful. Some people find their dream home in a short amount of time, while others may look at dozens of homes for sale before they find the one. Once you find the perfect home,you will then need to make an offer to the sellers. Making an offer can feel intimidating, especially if your local real estate market is a seller's market where homes may get multiple offers. Luckily, there are several things that you can do to strengthen your offer. Use the following tips to increase the likelihood of your offer being accepted :
Let the Seller Know That You're Pre-Approved for a Mortgage Loan
When a seller lists their home for sale, they typically want to sell in a timely manner. This means that they will take motivated buyers seriously so the home can close quickly without any major issues. An easy way to show that you're a motivated buyer is by providing a copy of your mortgage pre-approval when you submit your offer. A seller is more likely to accept the offer of a person who has been pre-approved for a mortgage because it shows that financing is already in place and the deal can move forward.
Make a Strong Offer
If you find a home that you absolutely love and you're serious about buying, it is in your best interest to ensure that your initial offer is strong. This is especially important if it is a seller's market. Low ball offers are not likely to be taken seriously, so don't make the mistake of making an offer that is substantially lower than the listing price. You are much better off presenting your best offer instead of potentially insulting the seller with an unrealistically low offer. If a home has multiple offers,you may want to consider making an offer that is higher than the listing price.
Consider Writing a Letter
If you know that a home for sale has multiple offers, you may want to include a letter with your offer to help you stand out. Any letter that you write to the seller does not have to be long-- you can simply state how much you love the home and outline your plans for the future if your offer is accepted and you purchase the house. Some sellers really appreciate this extra step, and it can help get your offer accepted.