Writing the Offer: 4 Ways Catch Charlotte Seller’s Attention
It takes time and effort to find the perfect Charlotte home to by. However, in a hot real estate market, you don’t often have a lot of time to ‘react’ to your find. After you have found that home, you now need to convince the seller that your Offer is the one they want to choose. There may be multiple Offers already on the table, so you are in a situation where you are in a serious competition for the home.
However, even if your Offer is the only one the sellers have in their hands, there is no requirement that they must accept your Offer. Crafting an effective Offer that will catch the seller’s attention is very important, and you may be able to accomplish this by following a few tips.
Offer Close To The Asking Price
One of the first things most sellers will look at when they receive an Offer is the price you are offering them for their home. You may feel as though the seller is asking too much for the home, and your agent may advise you to Offer a lower price. On the other hand, there may be multiple Offers already in play, and you may feel as though you need to Offer a price higher than the listed sales price. With your real estate agent’s advice in mind, consider that a seller will be more inclined to accept an Offer if it is close to what they are asking. If your Offer is too low, they may decline it without looking at the other merits to your Offer.
Request A Quick Closing
Consider that the sellers are either being relocated or have already found their dream home when you are presenting an Offer. Chances are, one of those is the circumstance which prompted the sellers to list their home in the first place. Sellers generally want to close quickly, so a general rule of thumb is to offer a Closing date that is within the next 30 days, IF your lender has said that is possible. Bear in mind that offering a quick Closing generally shows that you are a motivated buyer.
Choose A Shorter Due Diligence Period
A North Carolina Offer to Purchase includes a Due Diligence period, which allows the buyer to back out of the deal for any reason or no reason at all. This is the time when you do a thorough investigation of the property including confirming HOA items, property inspections, survey and, of course, loan approval. A shorter Due Diligence period is preferred by sellers so, if you’re trying to ‘win’ in a bidding war, keep this in mind.
Offer A Higher Escrow Money Deposit
When you make an Offer, you will also give the seller a good faith or earnest money deposit. A higher good faith or earnest money deposit also shows that you are serious about buying the home.
There are many factors that a seller considers when reviewing each and every Offer. While the entire Offer will be reviewed fully, the fact is, these factors are generally given significant weight in most seller decisions. Work with your real estate agent to structure the best Offer possible.
Need help winning in bidding wars? Give us a call – we are here to help; these suggestions are just the tip of the iceberg!
© Debe Maxwell | The Maxwell House Group | SavvyBroker@me.com | Writing the Offer:| (704) 491-3310 | 4 Ways to Catch the Charlotte Seller’s Attention