4 tips for crafting a strong buyer offer

Many Broker and agents may ask what I share so much to everyone in my blogs. In a world where buyers can find homes faster than Realtors can pass them along, this is one of the true benefits we can offer our clients. Although the overall purchase price is the factor with the most weight given to it, there are several others we can work with to help our clients stand out.

1. Aggressive closing dates, large deposits

The most popular ways to put forward a strong offer are to have aggressive closing and a large deposit to hold back as a binder or escrow.

After price, these are typically the second and third items looked into, respectively. Chat with the loan officer to see how tight you can realistically make the dates without requiring an extension.

Once you make a determination, explain to the myself or another lilsting agent the conversation you had and that those dates are not just feasible, but to be expected.

Follow that up by making the deposit a full lump sum at contract execution rather than in various disbursements after inspection, etc. Putting it all upfront shows the seller just how into the property you are.

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2. Pre-approval letter

I work with many of the same loan officers deal after deal. We have come up with a pre-approval letter that shares with the sellers that all income and asset documents have been received and reviewed, credit run, and file is ready to move to underwriting.

This shows that the buyer is pre-approved, not just pre-qualified. Asking the loan officer to provide you with the automated underwriting engines (AUS) findings and adding a brief explanation on how to read them also shows the homework done by the loan officer to pre-approve my buyers.

This can express to the sellers just how strong of a mortgage candidate the prospective buyers are, and it can give them confidence the deal will go through according to plan.

3. Waive inspections

Waving inspections is another way of getting clients into a home. The best way to do this and protect your buyers at the same time is with “for buyer’s purposes only” inspections.

This gives buyers an opportunity to back out if they perform an inspection and severe issues come up. This is also a situation where the buyer, should know the property and have a good idea of what condition it is in.

It is out of our scope to be building inspectors, but you should be able to recognize asbestos wrap, missing plumbing, outdated electrical, past its life roof, etc.

4. Send in a full offer

Sending over a full offer also is a great way to gain acceptance. When submitting an offer, always be sure to include the pre-approval letter, copy of deposit check and all related disclosures and addendums.

If it is a FHA mortgage, it’s a must to be sure to include the FHA Amendment Clause as well. This way the seller has everything and can execute the contract without needing to go back and request further information.

Creating strong offers that beat out other buyers and getting our client the home they want is a win for all.

Material in this article is referenced by the primary writer BY MICHAEL MAYNARD May 31, 2019

Author: danswingblog

Dan has celebrated over 19 years as a full-time Realtor. Successfully listed and sold homes well through the 8 figure market. Advises and assists clients with challenging Portfolios! Not uncommon to be working with foreign nationals, buyers that leverage the Sterling, Euro, and similar currency. Dan welcomes the Global community, with friends in many Nations. He brings a reputation for Integrity, Expertise, and Focus. Our customers deserve the best. Currently provides Residential and Commercial B.P.O.'s, Broker Price Opinions, B.O.V's, Broker Opinion of Value to many lenders. Manage and Sells R.E.O., Real Estate Owned properties, distressed properties! Evaluate and negotiate solutions for sellers and lenders. Developed, operated and sold a Florida "AWARD WINNING" Ad Agency! 2010 & 11 Commercial Agent of the year. RE/MAX Paramount Properties. Relocated to Tampa in 2012, enjoyed retirement for 6 months. Saw unethical practices by some Realtors and choose to reverberate our profession in the Tampa area. In four years built his business to as many as four (4) transactions monthly. Mortgage brokers were calling Dan a Superstar in Real Estate. Dan and his wife relocated to North East Florida, to the community of Nocatee. Currently focusing on 55 and older communities and Luxury Real Estate. Successfully closed on many extremely challenging foreclosures, and Short Sale. Coached and participated in Commercial and Multi-Income Family REO's in the past six years. Elected to the Auburndale City Commission in 1986-88. Created and served as 1st Redevelopment Chair in 1988 & 89 personally put in place all the elements for the Auburndale CRA. 1990 City Commission refused to give a full vote of confidence. After a 5 year journey to personally raise funding, extensive research and study for the CRA district perimeters, and stunned with the Commissions doubt. Positioned himself to run for office again, was re-elected to Auburndale Commission, to serve 1991-93 to full fill the CRA master plan! Active with the Central Florida Development Council from conception in 1985 and sat on the board periodically for the past 25 years representing municipalities and private investors. The positions Dan held from 1986 through 1993 enabled him to have a complete workable understanding of the State of Florida Comprehensive Plan for Future Land Use, and the benefits of intergovernmental agreements, utility franchise expansions, and public/private partnerships! Specialties: Assets recovery & receivership, Real Estate Portfolio's, REO & Short Sale of Residential and Commercial negotiations, marketing consultant, public relations, and Broker Price Opinions for residential and commercial lenders.

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