By Bonnie Roseman, February 10, 2020
How do you get the seller to pick your offer?
Winning Multiple Offer Strategies
You just walked in to a house that feels like home right off the bat. You love the filtered light and would have chosen the finishes yourself. It seems too good to be true… Okay, maybe it is not totally perfect, but it is by far the very best place you have seen within your budget. Now what?!
The trouble is that lots of people like similar places and if your heart is throbbing for this gem of a property, in all likelihood you will have competitors. How do you fight to win?
Let’s be honest, nearly every seller is moved by the bottom line, but there is often more to the story. This is not to say you can overcome the obstacle of an offer with a significantly bigger price tag, or someone with a pile of cash when you have worked hard to save up a modest down payment.
There are, however, lots of things that can sweeten the deal enough that if your offer is neck and neck with another, or maybe even a bit lower, might make all the difference and get you the house you want so badly.
Here goes:
1. Show your finances are solid by including your pre-approval letter from a local lender that is well respected in the community and if you have a large down payment include proof of funds (don’t share your account number).
2. Write a sincere, authentic and heartfelt letter to the seller. Make it short and sweet. Express your appreciation for the homeowners and their property, share a few details about yourself that show who you are and include a fun pic or two (kiddos- canine, feline and human, or other species, make great subjects).
3. Work with a great buyer’s agent in that frequently does business in the area where you are shopping. Relationships in the industry can be critical. You are relying on your agent to communicate well with the sellers’s agent and be someone they are eager to work with. Visit prospective agent’s Zillow, Nextdoor, or other profile pages online to see their recent activity. Check agents out on Peer Reputation to see how colleagues view them, as well as reading reviews from consumers online.
4. Get advice from your agent about the myriad details that can make a difference. Consider some examples-
- Tighten up your inspection contingency by shortening the time frame, etc.
- If you’ve received the Seller’s Property Disclosure you can elect to waive the associated contingency if you are confident about your purchase.
- Increase the dollar amount of your initial earnest money deposit.
- Find out the seller’s ideal closing and possession dates and give them what they want.
- Can you let go of the requirement for the property to appraise for the sales price?
- There are many tweaks that can make a big difference…
5. Get creative! What can you bring to the table that others cannot?
Have questions? Let’s talk!
Bonnie Roseman
Principal Broker | Earth Advantage | ADU Specialist | OR
She/Her
Hello, we’re so glad you’re here! My team and I are ready to answer all of your real estate questions and help you make a move when the time is right...
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- T: 503-515-5973
- bonnie@livingroomre.com
