Tips for getting a non-cash offer accepted
August 20, 2014 | Arron Sweeney
Berkeley sellers are flooded with offers from buyers in the current market, so buyers are getting creative in an effort to obtain their dream home. How can buyers make their non-cash offer stand out in today’s hot market?
Obviously, cash is king; however, if you are like most buyers, you aren’t in a position to purchase your home with cash.
Here are some other ideas to consider that will help you leave a great impression on the seller of your dream home, even with a non-cash offer:
- Know the market. Check out this tool that will help you know how quickly homes are selling in an area and also how much they are selling for. Homes in Berkeley are typically selling for more than the list price, so this tool will help you get an idea of what your offer should be.
- Offer a fast closing. If the seller needs to move quickly due to work, school, or a variety of other possible reasons, a quick close could very well be the deciding factor.
- Waive inspections if there is a clean pre-inspection by the seller. Very often sellers will order inspections prior to listing their home so they can make necessary repairs and avoid surprises. If the seller can show a clean pre-inspection and you feel comfortable with the quality of the inspection, offer to waive any additional ones. It will save time and money for both parties and could help your offer stand out.
- Write a cover letter…also sometimes called a love letter. This may sound a bit unconventional, but we’ve had offers accepted when we weren’t the highest bidders using an amazing love letter This is designed to tug at the owners emotional attachment to the property. With multiple offers on the table it can give you a competitive edge. Imagine sellers who have lived in a house ten or even twenty years. They have an emotional attachment to the house. Along comes a love letter with an offer, and now they can envision these buyers living in “their” house.
- Hand-deliver your offer. We know it’s old fashioned but it provides a face to face meeting and has become somewhat customary in Berkeley. It’s a way to make an extra effort to show you are genuine in your interest.
Contact us now if you plan to purchase a home using a non-cash offer. We can give you more ideas of what has helped other buyers stand out from the crowd and get the house of their dreams.
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