Making a strong offer is important. Here’s how to do just that.
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Making a strong offer is essential in a seller’s market like the one we are seeing right now. Here are four tips that will help you make the strongest offer possible when the time comes for you to purchase a home:
1. Understand how much you can afford. A mortgage pre-approval will show a home seller that you are serious about buying their home and have the financial capabilities to do so. This will give them confidence in working with you and accepting your offer.
2. Act fast. Buyer demand has continued to outpace supply and we are seeing multiple offers at nearly every price point below $300,000. You need to take action right away in this market. If you sleep on it, you won’t sleep in it.
3. Make a solid offer. Your strongest offer will need to be comparable with other sales in the neighborhood and represent market value. You could also include a personal letter with your offer, letting the seller know exactly why you want to buy their home. Those have helped us win out in multiple offer situations in the past.
4. Be prepared to negotiate. Oftentimes, the seller will send a counteroffer. Usually, their offer revolves around the price and closing time frame. Understand that it’s likely we will get a counteroffer, and having that pre-approval in hand will give you stronger footing.
Buyer demand is high, so act quickly.
