This goes back to my earlier read about distressed properties in Dr Phillips and the lack of inventory. I just got off the phone with a nice lady that lives in the Northeast and was working with another real estate company. She went on to say just how frustrated she was because she had 4 offers rejected in the past 30 days. Now I’m not going to sit here and say it’s because of the real estate company, I don’t know how the offers were written up and I also know first hand what the activity is like out there. I did though go into a conversation explaining ways she could make a more attractive looking offer resulting in a much better chance of getting accepted.
Today’s home buyers should look at every little advantage helping them get their offers accepted, especially for the bank owned and short sale properties where many are still under valued. Again I go back to being aggressive in today’s real estate market without being desperate. Here are a few of those guidelines that may help you climb over that last buyer towards getting that Dr Phillips home under contract.
- Pre approval NOT pre qualification (most listing agents know the difference) dated no more than 30 days old
- “AS IS” with right to inspect
- Proof of funds on bank letter head and again no more than 30 days old
- If putting down a substantial down payment show proof of funds for that amount
- Property inspections 7 days or less
- Acceptance 7 days
- If value is at list price go a little over (high percentage of buyers will go right at list price, depending on the value and where the home is listed, the next $5,000 increment pluse $100)
- If there are visual repairs that can be seen take it off the purchase price offer
- Copy of escrow check and recommend a minimum of 2 percent escrow
- Have a cover letter neatly printed with the bullet points of your offer
- Double check that you initialed at the bottom of the offer and sign and DATE
For more details about making your offer look attractive give us a call today so that we can talk specifically about your situation and how to standout from the crowd.
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