It does not matter if you are buying a house for the first time or if you are a veteran in the process of buying houses, the housing market can be competitive. Knowing how to make your offer stand out from the others can be an important step in helping to attract the seller’s attention. Here are four tips to help make your offer for a home a little more attractive to sellers.
Make sure they approve a loan
Sellers often want buyers who are motivated and ready to make an offer, so you may want to contact your mortgage lender to pre-approve for the value of your offer. Including a pre-approval letter from a lender can be a powerful indicator that you’re ready and want to buy a home, and can help the seller take your offer more seriously than others that do not include a pre-approval letter.
Some real estate agents encourage sellers to seriously consider the first offer they make for their home. So you may want to try to visit the properties before other buyers do. Monitoring or asking your real estate agent to set up alerts for new homes that suit your needs can be a simple way to be aware of the market. Get ready to visit new houses on the same day and, if you love the house and you’re sure you want to buy it, to make an offer immediately.
Write a letter to the sellers
Consider writing a letter to sellers. This gesture can take advantage of the emotions connected to the process of selling a house. It may be a good idea to include specific details about why you think this house is suitable for your family. Do not forget to mention other details such as the neighborhood and nearby schools. Try to establish a connection with the salespeople by reminding them of the good times they had when they moved into the house for the first time. If you want to personalize your offer even more, consider making a video for the sellers. But keep in mind that if the seller is a builder or investor, who is probably more interested in the price of the offer, these tactics may not help much.
Take care of the seller’s needs
Although the price is an important factor for sellers to accept an offer, there may be other aspects that are equally or more important at the time of sale. Some sellers may not be ready to move at the time of the sale, in which case offering them more time to move can be a motivating factor for them to accept your offer. It is possible that other sellers do not want to take all their furniture, so an offer to buy them, if you like, may be another detail that helps the seller to decide.
You may want to ask your real estate agent for additional advice on how to make an offer more attractive. It is important to be as prepared as possible when you find a house that suits your needs.