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Get Offers Accepted

You’ve heard about this market being a “Seller’s Market”.

Competition is heavy and there are more Buyer’s looking for a home than homes available. So the big questions is, how do you get your offer accepted in this market?

Step 1 –Be Pre-Approved and DU Approved

In this market it is not enough to be pre-approved. Many Seller’s want to know you’ve been “DU Approved”. This means your Lender has submitted your loan package and received a Desktop Underwriting approval from actual companies that will provide you with the loan.

  • Threets & Associates has several preferred Loan Consultants you can work with to get pre-approved and DU approved. However! We are perfectly fine working with someone you know and trust.
  • We will know ahead of time if there are any issues with you obtaining a home loan
  • At the time of submitting your offer, we will provide the Seller with your pre-approval letter and advise them of your DU approval
  • Step 2–Review any Disclosures or Reports Prior to Writing an Offer

    In some cases the Seller has disclosures and/or Inspection reports completed. This is a bonus for you, the Buyer.

  • Threets & Associates will request and review these reports with you prior to writing an offer
  • We will address any items of concern and confirm the property’s condition
  • This shows the Seller you are serious and will not waste any time
  • If your offer is accepted, you will still have the opportunity to do further inspections, should you choose
  • Step 3 – Write a Letter to the Seller

    A letter from the Buyer to the Seller can sometimes provide insight that the Seller may not have when reviewing multiple offers. It is not required, but another option for the Buyer to help your offer stand out from the crowd. Taking a moment to draft a few positive point that frame why you have chosen there home can go a long way with the seller. Should you need a little help Threets and Associates will be right there with you.

    Step 4 – Be Competitive with the Market

    Offer price is usually the #1 key to an offer. Obviously the Seller wants to net as much as possible when selling their home. In a competitive market, a Buyer has to be sure to offer according to the market condition in that area.

  • To be competitive, Buyer’s should offer according to the market value in that area while staying within their affordability range. Recent sales will provide insight into the “value” of the home.
  • Threets & Associates will provide the Buyer with a comprehensive analysis of the market value.
  • When discussing a reasonable offer price, we will take into consideration the value, approximate overbids and number of offers on the table
  • We will work closely with your Lender to make sure the numbers are in line with your expectations and affordability range
  • We will discuss all options with you to determine a suitable offer price for a home
  • Step 5 – Write a “Clean Offer”

    Once offer price is established, you must consider all of the other terms of the contract.

  • Threets & Associates will make recommendations on the other terms of the contract including contingency periods, closing costs fees, inspection requests, time periods, etc.
  • We will take into consideration what’s customary for the area and condition of the home.
  • We will stay competitive by keeping the offer “clean” = simple, straight forward (layman’s ) terms.
  • Step 6 – Offer Something to the Seller

    Threets & Associates specializes in negotiations. When competition is high, some Buyer’s like to offer an additional bonus to the Seller besides price. This could be related to Seller rent-back, moving expenses, etc. If you wish to do so we can discuss this at the time of the offer and determine what is suitable, legally allowable and within means.

    Remember, as our client we always keep your best interest in mind while trying to meet and exceed your real estate needs and goals.