5 Ways to Strengthen Your Offer

By Jenny Mateyoke

As your professional real estate advisor, I focus on client satisfaction. My business is about service and I am not happy until you are happy. My years in the business have provided me the experience to assist you with nearly every real estate need.

As a buyer, when you’re faced with the prospect of competing against multiple offers on a particular home you like, you may be wondering whether it’s even worth it to throw your hat into a crowded ring. Here’s my simple advice: Go ahead and make a strong offer; get in the game and play to win. What does a strong offer look like, though? The following tips will go a long way in helping you stand out from the pack and impress the seller: 

1. Offer more earnest money. This shows the seller that you’re very serious about buying their home and completing the transaction. In a hot seller’s market like ours, the more skin in the game you can have, the better off you’ll be. 

2. Get pre-approved. There’s an important difference between being pre-qualified and pre-approved. Make sure you have a pre-approval letter from a trusted (preferably local) lender that shows that your income, credit, and overall financial profile have been verified, meaning you’re fully ready to pull the trigger on a purchase. 

3. Give the seller time to move out. This can often be a tricky spot in negotiations; the seller obviously wants as much time to get out, and you want to move in right away. If you can concede a few days to the seller and allow them some extra time to move out at no expense, that’ll surely spark the seller’s interest. 

4. Shorten or waive any contingencies. On a home inspection contingency, for example, consider getting that inspection done in 10 days instead of the usually allotted 14. Not only does it move the entire process along quicker, but it also demonstrates to the seller that you’re committed to closing the transaction. 

5. Write your best offer first. With bidding wars a commonplace affair in our market, you can’t assume that there will even be time for negotiations between you and the seller—and you definitely can’t lowball anyone. Put your best foot forward; bring your highest earnest money deposit, provide a strong pre-approval letter, remove any contingencies, and play to win.

Of course, nothing is guaranteed in this market, but following through on these five tips will put you in the strongest possible position as a homebuyer. If you have questions about this or any other real estate topic, just give me a call or send an email. I’m here to be a resource for you, and I’d love to have an in-depth conversation.