When you’re dealing with a hot market where it seems like every house is besieged with a hundred interested parties, it can feel daunting. How can you make an offer to purchase heard when so many other people are clamoring for a seller’s attention? It can be hard to know how to make an offer on a house that will get you the result you want, but the answer to that question is easier than you think.
To start, you’ve already done the hard work of finding an excellent real estate agent who has helped you to navigate the stormy waters of house hunting, all the way to the step where you’re making an offer on a house. Collaborate with them, and you’ll find the process will go so much easier. Your agent can help you understand more about the market, and the seller’s needs, that can help inform your offer to purchase – and help you to get the house that you want.
Another thing that helps when you’re making an offer is giving the seller a deposit they can sink their teeth into. Not only will it help them to see you as a serious buyer, but they’ll also put you at the forefront of the pack for putting down an initial investment. You don’t need much – perhaps just 3% -- but it can make all the difference. Similarly, you may want to consider padding your down payment. It can also signal your seriousness as a buyer, and if you make the offer in cash, that can only sweeten the deal for the seller.
But if forking out the cash isn’t in your financial wheelhouse, don’t be afraid to be human and show your vulnerable side by writing a letter, sharing your passion for the property and why you love it. Don’t go overboard – you don’t want to be overly emotional, needlessly sentimental, or even project what your intentions are for the space. After all, it’s not yours yet. But if you can strike the balance between honoring the space the seller has created and sharing what it would mean to you to have it as your own, you might just hit the sweet spot that gets you the house of your dreams.
Another thing you can share in your written offer? The opportunity to shorten escrow, which might appeal to the seller. Closing in less than 30 days may just be the thing that tips the scales in your favor. You could also opt to waive contingencies, but be careful – you don’t want to omit something that could actually be important to know ahead of time, especially if it could cost you issues down the road.
And last but certainly not least, be aware – and supportive – of the seller’s needs. Your ability to be flexible goes farther than you think it does, and it could set you apart from the others if you’re able to go with the seller’s flow. It could mean giving them more time to move, it could mean passing over or letting go of certain repairs or fixes that weren’t completed in time. Whatever it may be, remember – selling and moving house is a big deal, and for some, it’s a bigger deal than you know. Your ability to be compassionate and understanding will go a long way with the seller – and could get you into your new home with no fuss, no muss, and a lot of joy.