Consider These Elements To Make Your Offer More Appealing
Posted on: 15 December 2016
Although you can typically expect a counteroffer once you submit an offer in an attempt to buy a home, you also want to make your initial offer as appealing as possible. Many people focus primarily on the price they offer, and while this is important, it's not the only thing that can make an offer appealing to the homeowner. For example, a seller may pursue an offer that has a slightly lower price but meets his or her criteria in other areas. When you work with your real estate agent to submit an offer, give careful consideration to how you handle these elements.
Conditions
It's a good idea to include as few conditions as possible in your initial purchase offer. Conditions can make a seller opt for another offer that has fewer conditions over yours, thus meaning that you won't get to buy the home. For example, instead of submitting an offer that is conditional on you being able to secure financing, it's a better idea to meet with a mortgage broker before you prepare your offer. The mortgage professional can provide you with financing up to a certain amount, which means that you won't have to make your offer conditional on securing financing.
Chattels
In the sale of a home, chattels are the items in the home that may or may not be part of the deal. A seller's listing will include a breakdown of the chattels — for example, specifying that the home's appliances, draperies, and fixtures in the yard will be included in the purchase price. You can include your own perspective on the chattels in your offer. If the seller isn't including the draperies, for example, you might wish to offer a little more than you would otherwise if you can get the draperies included. In some cases, this suggestion may be appealing to the seller.
Closing Date
Your suggested closing date can often make or break your offer. While you need to consider your ideal closing date, it's worthwhile to do a little digging to find out what the seller might want. Your agent can contact the seller's agent to determine whether a short or long closing date is preferred. Or, you can look at evidence that suggests the ideal closing date. For example, if the house has been on the market for a long time and the price has been reduced dramatically, it's often a sign that the buyer is keen to sell — and may also want a short closing date.
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