Most buyers spend a lot of time searching for their new homes.  Everyone has a set of needs and wants in a home and until you find something that checks all the boxes a home search can feel like a daunting task.  That’s why when you finally find the home for you, most buyers want to put in a strong offer for a house that will be accepted.  But what is a strong offer?  How do I write a strong offer? Keep reading to find out!

It is important to note that since not all homes are the same, neither are strong offers.  Strong offers for a house are ones that put sellers and buyers in the best position to say yes.  Your REALTOR® will help guide you on writing a strong offer based on the current housing market conditions.

Writing a strong offer for a house isn’t just about price.

In order to write a strong offer, you need to consider what is important to the sellers.  Your REALTOR® can talk talk with the selling agent to find out things like:

  • Do the sellers need to move quickly?
  • Do the sellers have funds to do repairs?

When your agent gets answers to these questions, you may write an offer that includes a faster closing date (when possible) or a post-occupancy agreement for thirty days in order to give the sellers time to find a new home.  You may decide to do a home inspection for informational purposes only and take on the responsibility of doing any needed repairs yourself.  These items have value to sellers and may help them select your offer over others.

Offer asking price

Offering asking price or even slightly above can give some buyers a leg up over others.  Your REALTOR® can do some research on the market value of the home and determine what the best offer price should be.  Also, buyers should plan on not asking for closing cost assistance from the seller when they are competing against others for the home. Buyers can also use an escalation clause to automatically up their offer to a set amount if another offer comes in that is higher than the buyer’s original offer.  Talk with your REALTOR® about this option.

Keep It Simple 

The simpler the offer the better.  A strong offer for a house is just for the home; it does not tie selling the buyer’s current home to the purchase of the seller’s house.  Buyers should avoid requests for other items or repairs in their offer.  For example, small things that a buyer doesn’t favor like a flower box or swing on the front porch can be dealt with by the buyer.  Is it really worth losing the house over a washer and dryer?  Sometimes making requests before a contract is even settled on can make the buyers appear difficult to work with in the eyes of the seller.

Increase your Earnest Money

When buyers write an offer on a home, they put forth a deposit to demonstrate their seriousness in purchasing the home.  You can learn more about earnest money deposit here.  If a buyer has the ability to do so, increasing the earnest money deposit from the typical one to two percent is a great way to show sellers how serious you are about purchasing the home.  

Willingness to Negotiate

While buyers may not get to show their willingness to negotiate in their initial strong offer for a house, it is important to show the sellers that you are flexible and willing to work with them.  This might mean offering to move the closing date to accommodate the seller’s move or increasing your offer price based on other offers.  Being willing to negotiate can help you stand out from other offers.

Are you ready to start searching for a home in Locust Grove or the surrounding area?  I’m here to help guide you through the process and create a strong offer for a house when we find one that meets your needs.  

Contact me