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How to Make a Good Offer Better

Jan 5, 2015

It can be incredibly disappointing, frustrating, and heartbreaking when you lose the home you want to buy. Unfortunately, making an offer doesn’t guarantee you’ll get the home — or even a counter-offer. This can be a very hard lesson for buyers in today’s market. Low inventory and tough markets are requiring home buyers to come up with different strategies for the best chance at getting the home they want. 

Making Good Offers BetterHere are a few ways you can make your good offer better when deciding to purchase a home:

  1. Put your best offer down first; you may not get a chance to consider or accept a counter-offer from the seller.
  2. Submit a written pre-approval letter from your lender. This gives your offer greater strength and credibility.
  3. Increase earnest money above what is considered normal to be seen as a more “serious” buyer.
  4. Make your down payment larger than what is required.
  5. Eliminate unnecessary contingencies.
  6. Don’t ask for personal property not included in the listing agreement.
  7. Pay your own customary closing costs.
  8. Shorten the inspection period and even consider buying the home “as is” (subject to inspections), allowing you to get your earnest money back if the inspections are unacceptable without requiring the seller to make repairs.
  9. Offer to use the seller’s or listing agent’s preferred title company.
  10. Pay cash, if you can, and arrange for financing after closing. Be prepared to show proof of available funds.
  11. Schedule the closing as soon as possible, but let the seller know you are flexible.
  12. Once you decide on a home, act quickly. The longer you wait, the harder it will be to convince the seller to accept your offer.
  13. Ask your real estate agent if they have any other suggestions.

Think of making an offer on a house like applying for a job. You want to make a great first impression and show why you are the best choice. You won’t always know if there are multiple offers. For more information on strengthening your offer to improve your chances of getting your dream home, contact the knowledgable real estate agents at Hilton Head Island Real Estate Brokers.

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