How to Get Your Offer Accepted in This Market
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I was recently interviewed on the radio by Justin Barclay of Wood Radio 1300 and we talked about the different ways that a buyer can get their offer accepted in this very challenging market. I encourage you to listen to the entire interview, but here are a few of the most important tips from our conversation:
1. Get a pre-approval letter. Looking at properties without one just doesn’t make sense anymore. Consider this: When a seller puts a home on the market, they get it ready by cleaning, staging, and photographing it. Whenever a showing is scheduled, the homeowner spends days getting it ready. Imagine their disappointment to know that a buyer was let in the home that couldn’t simply take the few hours to get a pre-approval. It’s not only a proactive measure for buyers to know the amount you can afford, but it’s also beneficial to the seller by letting them know that the buyer can afford the home and is serious about buying.
Shortening the inspection period lets the seller know that you mean business.
2. Give the seller an occupancy period. This is when you allow the seller extra time in the home after closing. They may need it, considering they might also be purchasing a home themselves. This can go a long way in getting your offer accepted.
3. Reduce your due diligence period. In West Michigan, homebuyers typically get 10 days to have their inspections done during this period. If you shorten this up to five days or fewer, it gives the seller more confidence that the home will close on time.
If you have any questions about any of these tips or you need any real estate-related advice, don’t hesitate to reach out and give me a call or send me an email.