With today’s Edmonton real estate market, it’s not uncommon for a family to find the perfect home only to find out that their offer was not selected. It can be devastating, but especially frustrating if there is no way to discover why the offer wasn’t accepted. What was it that made the difference? Some buyers are really crafty when they submit an offer and use some tiny tricks that make their deal hard to ignore. Here are some ways to make sure any real estate offer is the first one considered.
When the real estate market is slow and there aren’t many offers rolling in, the buyers have their pick of homes and can make deals or add clauses to the contract that benefit themselves. It wasn’t uncommon for a buyer to make an offer for a home that included a term dictating that they would need to sell their own home first. In some cases, any requests like this will automatically disqualify a potential homebuyer from a bidding war. Why would a seller agree to this if somebody else is willing to buy right now?
There is nothing worse than agreeing to sell a home only to discover the buyer does not get approved for a mortgage and then it’s back to square one. As a buyer, a quick way to move to the top of the list is to get pre-approved for a mortgage. This proves to the seller that if they accept the offer the home will more likely change hands and the deal will go through, it also has the added benefit of allowing the buyer to know exactly how much they can put down in advance.
Everybody has a reason for selling their home and some are more time-sensitive than others. A real estate professional will be able to find out exactly why the home is being sold and see if there’s any helpful information that can help when crafting the deal. For instance, some sellers have a closing date that they desperately need to hit and may be willing to accept a lower offer if it is guaranteed to meet that date.
Sometimes the seller will end up looking at multiple offers that are all for similar amounts. At that point, some tiny incentives might make the difference between a winning or losing bid.
Every community is different and every seller has different criteria that need to be met in order for them to accept an offer. By teaming up with a professional REALTOR® you will have somebody working with you to find out what the seller is looking for and what you can do to sweeten the deal and put it above any competition.