Get Your Offer Accepted When Buying A Home
Buying real estate is exciting, but it can be discouraging when you get your hopes up about a property only to have them dashed because your offer isn’t accepted. It may be as simple as you and the seller not seeing eye to eye resulting in quick rejection of any offer. Maybe you should look more closely at properties having limited competition to help secure a deal. The little things generally make a big difference when sellers have multiple offers having similar price points. Here are some tips that will help in your efforts to ensure your offer is accepted.
Line Up Financials
Sellers are not interested in delays when it comes to transferring ownership of their property to someone buying a home. Actually getting to the close is the highest priority whether working with investment property owned by a lending institution or regular seller. Your offer might be higher than others, but if you cannot prove your ability to meet all obligations of the sale, you will lose out. For that reason, you should update your financials within thirty days of making an offer. If you are planning on paying cash, this should include proof of funds. If you intend to use financing when buying a home, the financials should include your credit score, debt to income ratio and the amount of down payment you will use.
Ensure A Clean Offer
When buying real estate that is in high demand, you should never rely on a sloppy presentation. Your offer should be complete, including everything the seller has asked for with no missing initials or signature pages. Otherwise, you risk having the entire thing discarded. It will do little good for you to quickly put together an offer if you don’t include a proof of funds letter or signed disclosure statement. Even if it takes a little longer to get things together, the seller will appreciate it when they can compare everything needed to make a decision.
Justifying Your Offer
You have to know who you’re working with when making any offer. There are a number of ways to make your offer stand out other than the price alone. One way is to provide reasons for why you think your offer is just. It’s fair to assume that including comparable sales and listings is a good idea. Photos backing up your claims along with estimates for repair are also acceptable. However, nitpicking can do more harm than good.
Fast Response Time
When buying investment property, time is of the essence. Just don’t expect the first offer to be accepted unless it is for the full price. You can also expect a counter offer from sellers. They want to negotiate so they can feel they have gotten the best price. Responding quickly will help this process proceed in a timely manner.
Concessions
Don’t be afraid to give in to some requests by the seller if you want to secure the deal or increase your offer if needed. Being too pushy though could cause the seller to take another offer instead.
If you’re looking to buy a house in Long Island NY, New York or any location be sure to check out our inventory. You can also call us to see if we can locate a property that may not be available on the market and could save you money!
Call us at 877-543-7171, or visit us at www.BuyWholesaleNY.com