Two More Strategies to Get Your Offer Accepted

We spent some time in another post discussing two stategies to make your offer more attractive to a seller, especially in the case of multiple offers on the same home.  When you've found the home that is right for you, we want you to be in the best position possible so your offer will not only be accepted, but the seller would feel like your offer was infinantly safer and more stable than those competing buyers have submitted.

Inventory is high and the market is sluggish compared to the days of the real estate “boom”. While these factors play into the buyer’s favor, it is still important to make sure you are in the best position possible when you find the home that’s right for you. While inventory may be high, the number of homes that will meet your needs may be few. After all, how many perfect homes can there be? Don’t put yourself in the position of competing for that perfect home and not being ready for a battle. Following these two simple steps will help you make sure that a seller would be crazy not to accept your offer.

Get pre-approved for the purchase

Remember…the seller is looking for someone who likes their home enough to buy it. Liking it is only half the equation. You have to be willing AND able for there to be a sale. A pre-approval shows the seller that you are a serious buyer and that you have done the leg work necessary to insure that you are capable of making the purchase.

Submit a strong and competitive offer

When making an offer there are several things to consider. Some of these things are easily identifiable (what are the comps, does the home need repairs) and some are not so clear (is the seller motivated, how low is too low). When making an offer you should consult with your REALTOR® to determine all the factors that are verifiable. For those that are not so clear, try putting yourself in the shoes of the seller. In this stage of the home buying process the buyer is typically thinking strictly from a financial perspective. Keep in mind that the seller may very well have a strong emotional response to a “low ball” offer. Making an offer that is extremely low (often referred to as fishing) will most certainly do two things: offend a proud seller and open the door for competition.

Some people will argue that a buyer should always start with a low ball offer. My advice is based more upon the situation. Look at all the data that you can verify, speculate on the stuff that is not so clear, and then commit to a strategy that is right for you. If you would absolutely be crushed if someone else got the home you are thinking of buying then don’t play so much with the numbers. If you could take it or leave it, then by all means throw out an offer and let’s see what happens.

I hope that these posts help.  If you would like to discuss these strategies, or if you have any other real estate related questions, please call me at 832-722-7731.  I always love to hear from my readers.

Stacy is a licensed REALTOR ® and the team leader of The Jones Team, a group of REALTORS® in Katy, who work together to provide exceptional service for their clients. Stacy and his team specialize in the areas west of downtown Houston. These incredible real estate agents can help you buy or sell a home in locations such as Katy, Cypress, far West and Northwest Houston, Richmond, Fulshear, Sugar Land, Spring Branch, Memorial, Spring, Tomball, The Woodlands, and Magnolia. Whether you are in the market to sell a home, buy a home, have a question about home appraisal value, need advice about home staging ,or have any other real estate related questions, Stacy and The Jones Team are available to help.