5 Things That Will Put Your Offer To The Top Of The Sellers List And Get You The Home You Want

Dated: October 29 2015

Views: 452

I had a recent first time home buyer ask me what she could do to help her get the house she's looking for.  She had come to me after working with another agent and after submitting multiple offers coming up second place was frustrated and ready to quit the search.   I fealt I could hellp her get that home she was dreaming of and gave her 5 things we could do to help guarantee she would get the next home she really wanted to purchase.  First thing I asked her was she prequalified and she said she was.  I asked her what kind of loan she was qualified for and she said FHA.  I said could you qualify for a low down conventional loan and she said she was not sure.  I double checked with my  lender and she was just a few points away from qualifying for a conventional loan and was told if she paid off 1 balance on a credit card she would qualify and was re-scored and now met the criteria for a conventional loan.  That was number 1 but here's why.  Many of the move in ready homes in her price range were flips (homes bought by investors and quickly rehabbed and put back on the market) FHA will not allow buyers to purchase a flip within 90 days of the flip owners purchase and if you have watched any HGTV professional flippers can have a home totally remodeled in a few weeks and they want that home sold as fast as possible.  Also regular homeowners (non flippers) also prefer conventional offers over FHA offers as it costs them less net as FHA requires certain fees be paid by the seller for those types of loans that are not required for conventional loans.    Number 2 once we found the home she LOVED I had our lender run her though DU on the target home.  What that means is the lender ran her loan information and the house together through their Desktop Underwriting program and emailed me the full results.  This step is better than a pre-qualification letter and better than a preapproval letter in a seller's eyes as it's a multipage document and actually cost the lender some $ to produce.  Many lenders shotgun out generic pre-qualification letters without doing the real homework necessary to TRULY know the buyer is qualified.  Number 3 I had her write the homeowner a letter telling them why this was the perfect home for her and added a photo with her dog as the owners had a dog and dog lovers love dog lovers  (this works more often with conventional owners not flippers or banks).  This home was not a flip home and the owners happen to be home when we showed the house and they bonded as they toured their home so when the multiple offers came and they did she had a slight leg up on the competition that did not have the 3 steps in place.   Number 4  this is a step I see missed by many agents in the digital age that is crucial to the negotiation process.  Once our offer was written I called the other agent to to let them know it was coming and to check out the lay of the land so to speak. .  I asked how many offer they had and any other tidbits I could glean to help my client come out on top.  You would be amazed at how many agents shoot an offer off and just wait and see.  Maybe send a quick text maybe not.  I also confirmed receipt once it was sent as you never know if your offer could get lost in the shuffle. Good listing agents are like watch dogs for their clients sifting through multiple offers to find not just the highest and best offer but sometimes weeding out an offer that looks good on the surface but digging that one or two layers deeper finding out that something is not right that could cost the seller weeks of time off the market for their clients.  Last but not least Number 5 I have an awesome working relationship with my lender of choice and she will call the other agent and go to bat for the buyer as well running the other agent through the what she has done to confirm the client is super solid and how quickly she can get the buyer to the closing table if time is of the essence.  I have been a Realtor for 17 years and know hundreds of agents by first name well Susanne has been at that same amount of time and has in the last year alone used her relationships with listing agents for homes our clients have offers on to get the offer signed off on and this client happens to be one of them.  Today I have a happy home owner who followed these simple steps and got the home she dreamed about. Hope this was helpful 

Brian Wilder 

Keller Williams Realty 


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