At Beverly-Hanks, we understand that buying a home is one of the biggest and most important decisions you will make in your lifetime. And we know that this financial stress can be compounded in a seller’s market when there is heavy competition among buyers.
If you’re worried about whether your offer will look more attractive than others, these tips are as easy as … well … one, two, three! Here are three ways to make your offer stand out in a seller’s market.
1. Get Pre-approved
Did you know that sometimes it’s not the highest offer that wins the house? In real estate, like many other things, cash is king. However, it stands to reason that not all home buyers are able to buy with cash. That’s okay. The next best thing to cash is a pre-approval letter from your lender.
Mortgage pre-approval requires that the lender verify your financial information, which includes your documented employment, income, liabilities, assets, and the cash you have available to close on a home purchase. This verification process serves as a commitment to lend you a specified amount based on that confirmed information. It’s a quick and easy way to convince a seller that you’re serious about your offer.
Bonus Tip: Bring your lender to the table. At Beverly-Hanks Mortgage Services, your loan officer is beside you through every step of the home buying process. That includes working with your agent and the seller’s agent to eliminate any doubts about your offer.
2. Make it Easy for the Seller
If you’re selling your home, you have a lot on your mind—including the details of where you will live next! As a buyer, there are many ways that you and your agent can home in on the seller’s needs (pun intended) and tailor your offer to them. Make your offer stand out for its simplicity.
Be prepared to schedule inspections quickly or make an offer on the house “as is.” If you can, consider inflating your earnest money to compete with otherwise similar offers. Remove as many contingencies from your end as possible. Do the sellers need a quick closing, or are they still looking for their next home? Offer flexibility in the closing schedule to suit the seller’s timeline. Pay for extras, like the closing costs or HOA fees. Every little bit you take off their plate counts in your favor.
Bonus Tip: Make sure your offer is complete! The easiest way to have your offer shuffled to the bottom of the pile (or thrown out!) is if it’s missing disclosure documents or purchase agreements. Our full-time, professional real estate agents can help you dot all your I’s and cross all your T’s.
3. Show Your Love
Selling your home can be a very emotional experience. After all, the sellers had just as many memorable moments in the house as you plan to have in the coming years. Believe it or not, a quick note to let them know how much the home means to you may make a world of difference. Tell them what you like best about the home, the property, the neighborhood. Tell them why you’re moving in the first place. It could be that your story resonates at just the right frequency to edge out a competing offer.
At the very least, it’s a great exercise for you in your decision-making process.
Make Your Best Offer Today
Before you make the perfect offer on your dream home, you need the right real estate agent by your side.
Beverly-Hanks has 14 convenient offices across WNC that make finding a local neighborhood expert easy. Once you have your desired neighborhood in mind, research Beverly-Hanks’ agent profiles to get to know our agents before you even make contact. Rest assured, all Beverly-Hanks agents are fully licensed, and all credentials are listed on their account.
All real estate is local. In order to make confident real estate decisions, we believe it is important for you to have timely and neighborhood-specific information. If you would like more information about buying a home, our experts at Beverly-Hanks are here to help. Contact us today to speak with a Beverly-Hanks real estate agent about buying homes and land in Western North Carolina.
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