Top Agent’s Tips for Getting Your Offer Accepted

It’s no secret that it’s a really competitive market if you’re looking to buy a home right now. It’s not uncommon for buyers to put offers in on multiple homes and have their offer out bid or not accepted over and over. This process can be really frustrating and even downright discouraging. It’s important that you stay the course and see it through since that is what’s needed at this time for you to find your dream home.

You may be asking yourself, “What can I do to get my offer accepted in a competitive market?” We’ve talked to our top agents to see what wisdom they have that we can pass on to you.

Money Talks

The obvious conversation is money. If you really want to do all you can to get your offer accepted, you can do these things:

Get pre-approved - This shows the seller that you’re serious and you’ve already taken steps to close the deal. Provide proof of your verified pre-approval with your offer.

Give your highest and best offer - If you’ve found your perfect home, this isn’t the time to hold back. Go all in with what you are willing to spend to give your offer the best chance of being chosen.

Cover the appraisal costs - If you’re offering above the asking price it may be beneficial to offer to pay appraisal costs as well.

Put more down - A larger down payment shows the seller that there is more probability that you are a buyer that should have no problem with financing.

Include an escalation clause - An escalation clause can be set to increase your offer if other offers come in higher. You can set the maximum amount your bid will escalate to, but our agents advise that some seller’s agents might be annoyed by this as it goes against the spirit of “highest and best” offers.

Help with closing costs - You can offer to pay some or all of the seller’s closing costs. This is basically money in the seller’s pocket. Another advantage to the seller is that this is money they won’t have to pay commission, transfer tax, or title insurance on.

Make it Easy

Another thing you could focus on to get your offer accepted is to make buying from you easy for the seller. One of these steps could be just the move that tips the table to your favor.

Pay cash - If you’re in the position to do this then you can waive a financing contingency. This is a more assured option to the seller.

Waive a home buyer’s contingency - If you’re not in need of your current home selling before you can make an offer on a new home, you can waive a home buyer’s contingency. This is just another way to streamline your buying process.

Offer an appraisal guarantee - This basically means that if the house you want to buy is appraised for less than the asking price, you, the buyer, will cover the difference of a specific amount with cash at closing.

Take on any needed repairs - “Make it easy for the seller by guaranteeing you won’t ask for repairs, concessions, or a change in price,” says veteran agent Adrian Lark who helped over 30 buyers last year.

Give the seller an easy move out - Offer to allow the seller to leave behind anything that they don’t want to get rid of or move out themselves.

Offer free occupancy - Offering free occupancy for an agreed amount of time could eliminate some of the stress for the seller by giving them additional time to find a new home.

A key factor in getting your offer accepted is having great communication with your agent. Work with your agent on where you are able and willing to give your offer an edge in the process. A great agent will get to know and understand you, your needs, and your situation. We have a great team of agents that have built their careers off of doing all they can to make sure you find your perfect home. Having a creative and caring agent who knows how to help you is especially important in today's market. Contact us today, we’d love to help you as you begin your journey in finding your new home. ◼