When your client is ready to make an offer on a house, there are a few things you can do to help ensure that the offer you submit is accepted. Here are some tips for crafting a winning purchase offer.
Have the buyer get pre-approved for a mortgage
It is always best to recommend that your buyer get pre-approved for a mortgage before even beginning the house search. Not doing so can lead to a lot of disappointment in the end once trying to submit an offer and make a real estate purchase. By having a pre-approval letter in hand, your buyer will have an idea of what they can spend and whether their chosen home is within their budget. Loan pre-approval also shows sellers and other realtors that your client is serious. This information gives realtors the knowledge needed to help guide clients through the real estate process with success and smoothness.
Make sure the buyer has a realistic idea of what they can afford
As a realtor, it’s important to make sure the buyer has a realistic idea of what they can afford. Before making a purchase, it’s essential to set expectations based on not only their loan approval amount but their personal budget. Making sure the buyer understands monthly payment limits, closing costs, and any other pertinent fees associated with the purchase of their home is key in creating an understanding and realistic picture of what their financial commitments will be. This can help avoid later issues or surprises down the road.
Consider their highest and best offer
As a realtor, it’s always best to determine your client’s highest and best offer. If there are multiple offers on the property, it may be best to use this as the starting point to give your client the best chance. Making this initial offer sets the tone for negotiation, so taking the time to determine what your top offer is and entering negotiations with that in mind will serve you well. It also reduces the time spent haggling back and forth over price, giving both parties more time to address other important details of the real estate transaction such as inspections or contingencies. Taking this approach helps ensure that any real estate deal you make meets your needs without putting you outside of your budget.
Don’t be afraid to walk away from the deal
When it comes to real estate, rarely is the perfect deal too good to pass up. It’s often better to walk away from a real estate purchase if your buyer doesn’t feel completely satisfied. Providing your client with as much knowledge as possible can assist in their decision but ultimately, it is up to them. Building strong real estate knowledge and having the courage to step back during negotiations are invaluable skills for any real estate agent.
When your client is ready to purchase their dream home, do your best to ensure they are adequately prepared. By following these suggestions, you’ll be able to craft an offer that can help them reach their goal.
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