Want to Get Your Offer Accepted? Follow These Steps
When representing a Buyer in an offer, I ask them to partner with me to do everything possible to make them irresistible to the Seller. Beside the steps listed below by my smart Colleague, it is so important if financing, the Buyer interview a Lender I recommend before ever touring a home. Sellers appreciate when a offer is presented to them, they feel secure in knowing the Buyer can close the transaction. When Sellers are confident in their Buyer. They are far more open to all aspects of the offer.
When you have found the home you love, your real estate agent will help you decide how to structure your offer in a way that it will be accepted.
Here are some points to consider:
- The amount of earnest money. This is usually 3% of the purchase price.
- The down payment and financing details. Putting anything less than 20% down will most probably result in you having to pay Private Mortgage Insurance, and also will make you less competitive in a sellers' market.
- The proposed move-in date. With an all cash deal you can shorten the escrow period if the seller is willing. However, when a loan is involved 30 days would be the minimum time period for escrow.
- The price you are offering. You will work together with your real estate agent to make an offer which at the least will encourage a counter from the seller.
- The length of time the offer is valid. The standard time period for the seller to reply to your offer is 3 days. However you can shorten this period if you to encourage them to make a quick decision.
- The details of the deal. There are many things to consider when drafting your purchase agreement, some of which is covered in "Making the Offer."
Remember acceptance of your contract depends on negotiating satisfactory terms with the seller not just making an offer.
Need to find out more about making an offer?
Jane Peters, connecting you to the L.A. real estate scene
Buying or selling real estate in Los Angeles can be an overwhelming process. Contact Jane Peters, Los Angeles realtor specializing in absentee owners, out of town buyers, and those who need that extra attention, in order to make the transaction a smooth, trouble-free, and fun experience.
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