The Basics To a Great Offer

Karl Miller
Published on December 22, 2020

The Basics To a Great Offer

We have talked about the 2020 market, the fast-pace and low inventory, but what do you do when you’ve found THE house you want to buy? Here are some simple tips and tricks to writing the best offer you can! 

  1. What is your ideal close date, typically that is between 30-60 and up to 90 days. Get an idea of what the seller’s ideal close date is from your agent and try to meet those needs!
  2. Do the seller’s have a place to go? This will impact their closing date
  3. Fill out all paperwork properly
  4. Be prepared to put down a substantial earnest money deposit, if you’re planning on putting 20% down, instead of saving that all for closing, you can up your EMD to show your interest in your home. On average an EMD is $1,000, but you could put down $5,000 to show the seller you are motivated! These checks are not cashed until your closing day.
  5. Include a bank letter or proof of funds letter if paying cash
  6. Write an introductory paragraph letter to the seller. Let them know what you love about the house and create a connection if possible! 
  7. Act fast. Try and be the first offer in the door. If you’re not the first, be the strongest.
  8. Consider an escalation clause. Some sellers don’t like these, so check with your agent to see if this is the best fit for the seller and seller’s agent! 
  9. If you don’t win this time, learn everything you can to be ready to get the next one! Know there will be other houses coming on the market! Your perfect house is out there!

Make sure your agent is on top of her or his game with communication and problem solving skills to insure your needs are met. Remember they work for you. Most agents will truly do everything they can to make sure your needs are met.

We are rooting for you! If you need help buying a home, contact our office today to talk with one of our experienced agents! We want to help YOU find a home that you LOVE!

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