Recently, a buyer client asked us what they’ll need to include in their offer to grab a seller’s eye when they’ve amassed multiple offers, so that’s the focus for today.
The first bit of advice I give to buyers is actually the same thing I would advise a seller to do: Use a local lender. The truth is when multiple offers are in front of a seller, they’re much less apt to accept an offer through a little-known lender—even if your offer is considerably higher. What good is a high offer if the loan can’t close?
Next, eliminate any potential obstacles that could derail the closing process, and write as clean of an offer as possible to create the strongest appeal. If your offer is weighed down by an inordinate number of caveats, ways you could withdraw your offer, and inspections, the seller will probably see your offer in a more negative light.
Last, but not least, explore the possibility of qualifying for a TBD loan, where you’ll be fully approved before even finding the home you’d like to make an offer on. This way, you’ll have crossed your t’s and dotted your i’s, and the only leftover items will be the appraisal and the home address. An offer of this kind will be much more attractive than either a pre-qualification or pre-approval.
If you’re a buyer and you have any questions about today’s topic or you’d like help with your home buying needs, feel free to reach out to me. I’d be happy to help!