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Presenting a Strong Home Offer

Both today and for much of the last couple years, the real estate world has been in what most would call a “seller’s market.” This means there’s lower inventory available than there is demand across the country. This situation usually leads to rising prices and sellers who cam exert a bit more influence and leverage on the process.

That doesn’t mean you can’t get a great deal on a home, though, and we’re here to help at City Creek Mortgage. This market simply puts more emphasis than ever on making attractive offers to sellers – and this means more than just getting the financial details right. Let’s go over a few factors that will help you present a strong offer and increase your chances of acceptance.

Strong Numbers

Of course, the numbers themselves are still the strongest factor in any mortgage situation, and there are ways to set yourself apart here. A few tips:

  •       Pre-approval: This is a process where you submit your financial information and credit score to a lender, and a third party assesses your situation and gives a general range of prices you’re likely to qualify for. Pre-approval shows sellers you’re prepared in the financial area, and also strengthens your buying power.
  •       Simplicity: Wherever possible, remove contingencies and make your offer as simple as you can. Try to avoid repair demands or any other areas that will create more hassle for the seller.
  •       Amount: There isn’t much negotiation wiggle room in today’s market, but there may be times where you can squeeze a slightly larger offer than the asking price into your budget. If your realtor thinks this makes sense for you, it can be a good way to push you over the top.

Advisory Team

You want to have a few folks on your side when it comes to making offers:

  •       Loan advisor: This is where our City Creek mortgage pros can help. We’ll help you with pre-approval and several other big areas of the home buying journey.
  •       Realtor: Look for a local, experienced realtor who can help make the entire process smoother.
  •       Friends or family: If possible, look to family or close friends who have been through the process recently for some advice. They can help you with both details and overall confidence.

Personal Narratives

Some sellers will have several very similar offers to consider, so setting yourself apart might come down to a bit of a personal touch. A few options here:

  •       Perks: Offer the seller some additional perks if appropriate, such as paying typical seller fees or arranging for your own cleaning instead of asking the seller to do so. They might appreciate this more than you think.
  •       Personal note: Many sellers appreciate a personal note or letter explaining your situation and why you think the home will be a great fit for you and your family.
  •       Flexibility: In general, show sellers you’re flexible and will accommodate any unique needs they have within reason.

For more on how to make your offer stand out, or to learn about any of our mortgage loan services, speak to the pros at City Creek Mortgage today.

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