Creative Ways to Get the Winning House Bid

08/05/2014 at 11:05 am  •  Posted in Buying a Home, Dream Blue, How To, Real Estate Advice, Tips by Blog Team  •  0 Comments

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In today’s real estate market, home buyers can expect to face multiple offer situations. Knowing a few tricks of the trade can make the difference between walking away disappointed and purchasing the home of your dreams at a fair price. Consider these tips that will grab a seller’s attention:

Show them the money.

Offer the highest price you can and make a large down payment. Up the amount of earnest money you’re willing to deposit. Better yet, a cash offer will stand out.

Get preapproved, not just prequalified.

Attach a copy of the preapproval letter to your offer. Make as large a down payment as you can and provide documentation showing the source of your down payment.

Be Flexible.

If you are aware of any stipulations that are of significant importance to the seller, try to accommodate them as much as possible, especially the closing date. They may need more time, or want to move quickly.

Write a love letter.

Sellers often like to feel good about the people who will eventually live in their home. Attach a letter along with your offer, and maybe even a photo of your family, explaining why you want to live there.

Cover seller costs.

Sellers often cover transfer taxes associated with the sale. Consider asking the seller to pay only a portion or none of the closing costs.

Make an offer they can’t refuse.

Still do a home inspection, and have a contingency that allows you to walk away.  But, if there are minor repairs needed, the sellers will know they won’t have additional costs to fix up the home before closing.

Be likeable.

Don’t turn off the seller by being demanding or critical of their home. Some sellers may eliminate your offer even if it is for more money. Always be cordial and as agreeable as the situation

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Blog Team

Contributions to this blog come from our dedicated Coldwell Banker Residential Brokerage real estate professionals and our regional service center staff. We welcome your comments and questions!