Things you can do to increase the odds of having your buyer's offer accepted.

Reblogger Gary De Pury, ESQ.
Real Estate Attorney with Bay Vista Realty BK671311

I have been dying to try out this Re-Blog Thingy...and well...of course it would be my good buddy Broker Bryant that would allow me the opportunity to post my very first Re-Blog

1) It is topical and that might as well be the offer that I received yesterday....

2) Funny as hell

3) Can also be posted on my Facebook Page.

 

Thanks Bryant! 

 

Gary

 

Original content by Bryant Tutas BK607690

 

Hi folks. Here are a few things to help you get your buyer's offer accepted? As, primarily a listing Broker, I can assure you it's not always about the price. So what do I look for in an offer? What can a REALTOR® do to ensure that their Buyer's offer is taken seriously? A purchase offer, just like most things, is all about the presentation. If you want it to be taken seriously then present it seriously. So here are some tips:

  • It must be in writing. Now folks to me this is a big one. My standard response, to
  • a verbal offer, is: "Is the offer so bad you won't even take the time to put it in writing? My Seller will NOT negotiate a verbal offer, it is a condition of my listing agreement." NEXT!
  • Send me the ENTIRE purchase offer with ALL addenda. Also, I need a copy of the escrow check and a LENDER letter. 
  • Make sure the offer is legible with NO blank spaces. If your handwriting is bad then type it. If I can't read it, I can't present it. I do not get paid to decipher offers.
  • After you have faxed or E-mailed the offer. Pick up the phone and make sure I received it. I had this happen last week. A REALTOR® called me on Friday to ask if I had a response on the offer she sent over on Wednesday. "Nope, never got it" She had faxed it to the wrong number.
  • Please, please, please put a cover letter with your offer. And please, please, please make sure your contact information can be read. It may be your only Buyer and your only offer but I can assure you it's not my only offer. I can't respond if I don't know where it came from.
  • Make sure the figures add up correctly and the dates for contingencies are correct i.e. A 100% financing deal with a pre-approval for 95% financing. Huh? A 21 day closing date with 30 days for mortgage approval. What? An inspection period longer than the closing period. Hello?

Now folks, this is pretty basic stuff but it happens ALL the time. These offers will rarely be accepted. If you don't take your offers serious neither will my Sellers.

OK, now lets assume you have the basics down. Here are some things you can show me, to really get me excited.

  • A letter from the Buyer telling my Sellers how much they love the house and how much they are looking forward to their new home. This is an excellent tool to give Sellers that have lived in their home for a long time. They want someone that will enjoy and take care of "their" home.
  • The Buyer's credit score. I will love you for this one. If they have great credit, then prove it to me. I won't even show the Sellers. But it sure does make me warm and fuzzy.
  • Proof of funds. Paying cash? Have a 20% down payment? Prove it to me. I'm going to ask anyway, so you might as well beat me to the punch. By the way, cash does not mean, "when we sell our house." Cash means AVAILABLE funds in the bank.

Oh, one more thing, communicate with me. Return your phone calls promptly. If it takes me three days to reach you, while we are negotiating, I will have zero motivation to want to do a 30-45 day transaction process with you. I will tell my Sellers this AND they will agree with me.

So there you go, I  hope this helps. Any other suggestions from listing Brokers?

***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

The BIO for Bryant Tutas

Copyright © 2010 http://www.brokerbryant.com/ | All Rights Reserved

 

 

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Rainmaker
425,567
Carla Harbert
www.LorainCountyHomeSales.com - Avon, OH
RE/MAX Omega: Lorain-Medina County Area
That video still has me laughing and I would love to see the face of any agent that would "receive that counter offer". Great fun. I needed my laugh for the day!
Dec 16, 2010 01:45 PM #1
Rainmaker
1,365,083
Nick T Pappas
Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Hun... - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Gary, you picked a great first re-blog and you gotta love that counter offer!!

Dec 16, 2010 02:36 PM #2
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Gary De Pury, ESQ.

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