To make your offer more attractive some buyers choose to waive their option for an inspection. This can be risky, and our advice is to accept the property “as is” if you are happy with its current condition and choose to go the safer route to do an inspection. In the case that issues arise during your inspection, provide the seller with a list of issues and the option to address them by fixing them, making a price adjustment, or giving you a credit back.
Contingent upon Financing
This is another contingency you should never omit in your offer unless of course you are paying all cash or are extremely confident with your finances. Generally speaking, a 30- to 45-day closing usually has a 17- to 25-day period for a mortgage approval. Your preapproval letter will make this finance contingency less of an issue for your seller.
Contingent upon Appraisal
It’s very possible that the house may not appraise at your offer price. However, if you’ve done your homework and are comfortable with your offer, you might consider waiving this contingency.
The downside is that you may be on the hook for the price difference under the negotiated sales price. Waiving this contingency gives you a leg up over the competition, especially in a hot market where the seller is trying to get top dollar.
The “Please let Me Buy Your House” Letter
Writing a handwritten note may not get you the deal, but if multiple offers look close or equal on paper, a personal note to the seller can really make your offer stand out.
Selling a home is an extremely emotional process, especially for those who have lived in their home for decades or raised a family there. Sharing your eagerness to raise a family of your own in their house could pull at their heartstrings … and get you that house!
We appreciate you tuning in and hope that you found this informative. These are just a few offer strategies of the many we use here with our team. If you’re a home buyer wanting to see how we can help you negotiate you next offer give us a call today for a free consultation at 956-307-4544. We look forward to hearing from you.