Top 10 ways to strengthen your purchase offer and beat out competing buyers | Inman News
Visit www.BuckheadAtlantaRealEstate.net for a REALTOR who will act upon these principles to strengthen your offer.
This post by real estate agent Janna Scharf, of Keller Williams Realty Coeur d’Alene, was originally posted on ActiveRain.
I just finished up with my fortunate seller client who had the difficult task of deciding which one of three excellent offers to accept for the purchase of her home. That’s right, three outstanding offers.
I had a conversation with the agent for each potential buyer and explained the following to them: There will be three competing offers. The seller is doing a Home Affordable Foreclosure Alternatives-approved short sale. There was no point in running the purchase price up above the fair market value that Wells Fargo was willing to accept, which was the listed price. The seller is not going to receive any of the sale proceeds. What would be the deciding factor for her is the strength of the buyer, and their willingness and ability to hang in for the duration. I suggested each of them do whatever they could to strengthen their offer in every possible way.
We ended up with three excellent offers, essentially all full price. How to decide? We could have used a dart board, because the fact is they were all great. I pulled out my legal pad and started splitting hairs in a side-by-side comparison.
Sometimes I think buyers and their agents don’t realize that there are many different ways to strengthen a purchase offer besides just the obvious one, the purchase price. This is always something to seriously consider when making any offer, whether or not competing with other buyers. What follows are some things a savvy buyer will consider when making a purchase offer in any situation.
Top 10 ways to strengthen your offer:
10. Present it in person. This seems to be a dying art in my market. Almost never happens. There is just something about making the effort to come hand me the offer in person, make eye contact and explain a bit about the buyer. I always attempt to present offers in person, and at the very least will include a letter to the seller’s agent and seller telling a little bit about my buyer, what they love about the house and pointing out the strengths of our offer.
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