Real estate markets are very competitive in many parts of Texas. As a buyer, how do you differentiate your offer from others that a seller receives?
Show how serious you are
If the sellers are asking for 1% of the sales price as earnest money, offer 1.5% or 2%. The extra deposit shows sellers that you’re committed to purchasing their property.
If the sellers are asking for 1% of the sales price as earnest money, offer 1.5% or 2%. The extra deposit shows sellers that you’re committed to purchasing their property.
Don’t ask for extras
How many contingencies does your offer include? Financing? Selling your current home? While you might not be able to eliminate all contingencies, limit the ones you ask for.
How many contingencies does your offer include? Financing? Selling your current home? While you might not be able to eliminate all contingencies, limit the ones you ask for.
Connect on a personal level
Consider writing a note to the sellers about you and why you love their property, and include that with your offer. This letter isn’t a negotiation tool and should not include anything about contract terms; it’s a way for the sellers to see more just numbers when they see your offer.
Consider writing a note to the sellers about you and why you love their property, and include that with your offer. This letter isn’t a negotiation tool and should not include anything about contract terms; it’s a way for the sellers to see more just numbers when they see your offer.
Author: Editorial Staff, Texas Association of REALTORS®
No one wants to spend more than they have to on a property, but no one wants to lose out on the perfect place. That’s why it’s important to do a little research before making an offer on a home. Take these three steps to present a compelling offer to sellers.
Decide on the right price
Decide on the right price
Real estate markets are localized, so the sale price of a home across town may have little to do with what a home in another area of town is worth. You can determine the right price by finding out how the property compares to similar homes nearby, what Texas REALTORS® call “comps.” Comps are an important part of determining price because they reflect neighborhood conditions. Your Texas REALTOR® can help you find the best comps to use for the property you want.
Show sellers you’re serious
Hitting the sellers’ perfect price doesn’t guarantee they will accept your offer. Homeowners will consider the amount of earnest money in the proposed contract as well. A higher number shows a higher level of sincerity about the purchase and may place your offer above others.
Be flexible
Some sellers may have a strong preference for when they close on the sale. If you can meet their timeline, your offer gains strength. And when you can help it, stay away from contingencies, or make them as moderate as you can. Why? Put yourself in the seller’s shoes. A slightly lower offer may be more attractive than a higher offer that’s contingent on the buyers needing to sell their own home.
Many things combine to make an attractive offer. Your Texas REALTOR® can help put together an offer that gives you the best chance of getting the home you want at terms that are favorable to you.
Author: Summer Mandell, Texas Association of REALTORS®
If you have questions regarding your property, please call us today for a FREE consultation regarding your home!
If you have questions regarding your property, please call us today for a FREE consultation regarding your home!
