You’ve found the house of your dreams and need to have it. So how can you secure the deal?
If you are buying in a seller’s market, the demand is high, but the real estate supply is low. That means you may have competition among fellow house-hunters who also have an interest in your desired Collingwood real estate. So how can you make your offer more appealing to the seller to beat your competitors?
When submitting a competitive offer to a seller, you need to be strategic, authentic, and potentially offer more than asking. Your purchase offer should be composed thoughtfully with your personal voice and information to motivate the seller to choose you.
Beyond raising your price offer (if necessary), here are other valuable components to include in your competitive purchase offer:
Include Your Mortgage Pre-Approval
To demonstrate to the property seller that you are a legitimate buyer, include a preapproval for your mortgage agreement. This shows you are ready to buy and already have some steps fulfilled to speed their selling process.
Offer Favorable Leniencies
If you are satisfied with what you’ve seen from the property, perhaps you can offer to waive some contingencies in your contract for inspection or more. You could also suggest closing quickly to make the deal convenient for the seller. Make sure to consult with experts before making this offer as there are some risks involved.
Write a Personal Letter
Adding a human touch could make your offer stand out among others. The seller could have some sentimental attachment to the property, so they may care about who will be taking over their Collingwood real estate. Share why you want to buy their home and why you deserve to be the next owner. Sell yourself as a buyer to increase your chances of being picked.
Include Extra Money Talk
Of course, your offer will include the price you are willing to pay for the Collingwood real estate. On top of this, notify the seller if you are ready to pay everything up-front or if you can put down a larger deposit than they’re expecting. If you can’t afford to increase the price offer, just offering a hefty deposit on the property could be enough to convince the seller you are a worthy buyer.
Want More Guidance?
For more insights on submitting a competitive purchase offer on Collingwood real estate, consult with Christine Smith. She will help you compose an offer that will win over the property seller so you can find your new home. Contact Christine today.