Making an offer a Seller can't refuse

Making an offer a Seller can't refuse

Making an offer a Seller can't refuse

We have found the perfect house in San Ramon and are ready to make an offer. We want to put the best offer possible on the table so we can move forward with the sale. How we write a winning offer depends on the marketplace and whether it is a seller's or buyer's market. We need to find out what needs to be listed in our offer to give us the edge. As a buyer, how do we write contingencies that will let us cancel the deal and get our deposit back? As a seller, learn how to give up the battle and win the war through counter offers.

The agent has told us that presently it is a Seller's market so we need to come forward with a statement as to a logical reason why our offer is the best. We don't want to insult the agent by handing over a list of comparable sales if our offer is lower than the asking price. We showed our agent we had done our homework in the Tri-Valley area. We learned we had to make notations on each sale that compares it to the house we want to own. Maybe the higher priced homes had remodeled kitchens. If the home we want to buy is not updated, then knock off a believable figure reflecting the remodeling work from the seller's list price.

One of the best kept secrets is to have your agent ask the Seller's agent how can you as the Buyer create the biggest wins possible for their client. Some options might be to close as quickly as possible, another might be to allow the Sellers to rent the home back for 10-60 days to plan and execute their move once escrow closes. These could be very important to the Seller and encourages them to pick your offer over anyone elses. Another option is to realize some Seller's need some of their funds from closing to move; so they are stuck inbetween a rock and hard place. They can't move before closing without their funds and can't get funds until they close. So this other option is to either allow the Sellers to rent-back for 10-60 days so they will have their funds in their hands and can execute their move, or to allow our Deposit normally held in Escrow to be "passed-through" to the Sellers. This gives the Sellers some of their funds early, and allows them to move out before close of escrow.

We made an offer and it turns out that someone else also made an offer at the same time. How can this happen? If you really want a home, odds are several other buyers will want it as well. That's a good reason to act swiftly and not "sleep on it" overnight, because when you do, another buyer can step in and snatch it away from you. If you like the home, odds are several other active home buyers will, too. You're not the only smart cookie in the market place that can spot an excellent buy. And no, losing the home doesn't mean it was "supposed to be that way." Consider instead that you were supposed to buy it, and you messed up. The Seller's choose our offer as we offered them options in our contract the other Buyers did not.

Sellers realize that in a buyer's market, often they have to give a little something extra to the buyers to entice a sale. But in a Seller's market, the Sellers don't have to give much if anything; they are looking for fresh ideas from the Buyers to motivate them to accept their offer.

On the Buyer's side, don't be afraid to ask for a home warranty protection plan that covers you in the event an appliance breaks down or the plumbing or heating malfunctions. Normally these plans protect you for one full year from the date of closing. This is especially important if you are purchasing an older home.

Did you like the sellers' dining room table? China cabinet? Fish tank? Ask for it in your offer and use it as a negotiating tool. Often this draws the sellers' thoughts away from price and directs those thoughts toward the personal property. If the listing stated the washer and dryer are not included in the sales price, ask for them. If the sellers balk, tell your agent to say, "OK, if they leave the washer & dryer, are they then ready to accept the offer?"

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