The First Impression That Can Tank Your Offer

There are sufficient protections within a contract to protect a buyer's deposit. If they are buying down the mortgage with a large deposit, use it to show they are serious.

Recently had an offer with a low EMD, but called the Buyer agent and found their money was tied up in their current property. However they qualified with out selling it and won a multi offer battle asking for no inspections and went well above list and waived the appraisal clause. Always call to find out if there is a reason.

Hi Candice- some people can't get past themselves...they think the process is a game. happy to see this featured!!! 

Libra

Its definitely a way to make your offer more competitive!

All the best.

In highest and best multiple offers, you explain as the agent or broker to keep it simple, make it powerful and consider all the small elements that impact your acceptance or not. Fuel proration, there is a 275 gallon full tank of heating oil... when you propose no proration, that small factor can supercede the total price, the size of deposit, everything else. What is important to your seller rules the day in which offer to pick Candice A. Donofrio . Total price for a deposit will get a home owner's attention. Congratulations on a feature post! 

In a competitive market like this one, EVERY part of the offer has to be STRONG.  More skin in the game is one such component.  Great post Candice A. Donofrio !

Yes indeed, offers should be clean and strong and make a great first impression!

By the way, I'd never heard that song or seen that video before - it amazes me how creative some people are!

This is the offer you were dealing with when I was riding around with you, right?  I always explain to my buyers how the amount of earnest money they offer can really affect how the offer is received, even though earnest money truly isn't a big deal, haha.

Exactly. We really have to educate our clients here and some still insist on offering lower due diligence or earnest money. Sometimes they have to lose a house or two before they get with the program.

If a buyer wants the house, a higher EM amount will speak to the seller. It usually does...if everything else aligns with their set expectations!

p.s. Love the song BB.

Great post.  Thanks for sharing

Hi Candice,

I love that feature image.  As others have noted, it tells the whole story.  If the "earnest" money is weak, then it is not very "earnest," is it?  !!

Love that feature photo that says so much, Candice. Some buyers just don't realize the fishy first impression a low EMD conveys, even more so in a competitive market. Sellers certainly are aware.

Jeff

That old expression "Money talks" is still true but there are a lot of people who have not learned that lesson yet. 

I disagree. Silence is not a counter offer. Silence is a rejection of an offer. End of story. A counter offer is perpetuating engagement and may lead to a sale.

But you already knew that.

The topic is earnest money is one of my secret weapons in whether my offer (if I represent the buyer) is accepted or not, especially in multiple offer situations. I'll leave it at that, in case one of my local peers is reading... :-)

I'm just here to say, I can't handle that picture. 😀

I wholeheartedly disagree on this post. Just because some people may not have the liquid cash doesn't mean they are less qualified to purchase the property. I find people with higher earnest money deposits are quicker to withdrawal based on some arbitrary home inspection item. Earnest money doesn't mean much to me especially if the buyer qualifies for the loan, I know their selling broker, and I know their lender.

Interesting discussion - fun seeing different points of view.

A low emd suggests that either they aren’t committed to the deal or they aren’t as cash flush as they would like to seem. Generally the former