Thinking of buying a home? Not sure where to start? In this video I discuss some ways to help you determine if you are financially ready to take on a.
HOW NOT TO LOOSE THE HOME YOU LOVE
Here are a few ways you can make your offer on a home look great and stand out to the seller.
From Experience as an REO (Foreclosure Listing) Broker and handling multiple offers on homes for over 6 years . There is a common thread that is part of writing a successful offer to purchase a home.
Upon reviewing and answering over 1000 Offers presented to the Banks on their properties there are some items that cannot be ignored.
1. Prove your ability to pay, whether you have evidence of a loan approval or cash.
2. Put down enough earnest money to make your offer attractive for the seller. It's crucial that you have a pre-approval and have your financial house in order. Loan programs change every week and your agent should be staying abreast with the market conditions for financing.
3, Offer a realistic sum for the home that you think the seller might accept. Do not get your comps from Zillow, they tell you right on their site that the comps are not accurate. Sales and Pending Comps from the MLS are the accurate factual data that should be considered when making an offer. Looking at the wrong data can cost you to loose the house you want and end up costing you lots more money on pricing or changes in interest rates.
4. Don’t include too many terms, conditions and contingencies. These might make your offer seem less desirable for the seller. Only include those you really need or want. Make a clean offer and any seller will look at as reasonable requests regarding inspections. Knowing the ins and outs of what is customary and realistic can mean the difference in getting your offer selected.
5. Humanize yourself to the seller. Write a personal introduction to the seller where you state somefacts about yourself you think are worth knowing.
Hope this helps!Thanks for reading. Arna Freedman, a Real Estate Broker representing buyers and sellers in South Orange County cities. 949-244-0444
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