Finding A Great Real Estate Agent

Posted on: 4 January 2017

If the real-estate market in your local area is currently favoring sellers and inventory is flying off of the MLS as fast as it gets listed, then you will be pleased to know exactly how you can get your offer accepted and buy your next home. While you need to take a different approach when you make an offer on a property in a hot market, getting your offer accepted can easily be accomplished by following each of these tested and proven tips.

Tip: Provide the Seller with a Pre-Approval Letter If You Need a Mortgage Loan to Purchase Their Property

If you are buying your next home with a mortgage, then it is vital that you provide the home's seller with a pre-approval letter from your lender that proves that you can successfully obtain the loan necessary to purchase their home. The pre-approval letter shows your seller that you can close escrow and that you will not drop out of the deal because you can't obtain the necessary financing. This will put your offer above those of buyers who have not yet been pre-approved for their mortgage loans.

Tip: Provide the Home Seller with a Large Earnest Money Deposit

When it is time to decide how much money you want to include with your offer as an earnest money deposit, you should consider increasing your deposit to an amount likely larger than other buyers will offer. Since the home seller is entitled to keep this deposit if you don't complete escrow and buy the house, the larger the deposit is, the more likely it is that the seller will believe that you are very serious and will close on the house as scheduled. And, if you do back out of the deal for some reason, the seller will get more money for their time. Many sellers are willing to take their chances in this scenario.

Tip: Offer the Seller Extra Time to Move Out

Finally, since your home's seller will likely need to quickly sell their home to you, buy a new one, and then move in a short amount of time, you can help relieve their stress level by offering them an extra week or two to move out of the home once it belongs to you. This simple act of good will shows sellers that you realize how stressful this time in their lives is and can go a long way toward moving your offer to the top.

Try out these ideas when trying to purchase a home for sale so that you can call one of the houses you look at your future home.