Making your offer stand out in today’s competitive market just got easier. Follow these four tips to set yourself apart.
Now that we’re in a hot seller’s market, how can buyers differentiate themselves from the competition? To make your offer stand out in our current market, there are four simple tips all buyers should follow:
1. Make sure you’re fully approved. Many homebuyers today make the mistake of finding a home before securing a loan. As we at the Clifton Saunders Mortgage Team like to say: “You’ve got to fall in love with the loan before you fall in love with the home.” Whether you have a full pre-approval is the No. 1 thing any seller’s agent will look at when reviewing your offer, so make sure to sort out your financing before delving too far into your home search.
2. Get a professionally written offer. When drafting a contract, make sure no details are left out. Beyond this, your Realtor should also conduct an analysis of your local market to make sure your offer is competitive.
3. Write a heartfelt letter to the seller. Many sellers want more than just favorable terms and a good price—they want to know what will happen to their home after it has sold. Therefore, sharing some personal details about what this purchase will mean to you and your family can greatly improve your chances as a buyer.
4. Have your lender reach out to the seller’s agent. If the listing agent has already reviewed a number of fully pre-approved offers for their seller, then your own pre-approval letter may not be enough to make your offer stand out. Having your lender pick up the phone and speak directly to the seller’s agent, however, can provide them with an additional layer of confidence in your strength as a buyer.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.