Found Your Home Now Make Your Offer -

Found Your Home Now Make Your Offer

Tips to getting your offer accepted:

1. Have your real estate agent, or new home consultant, contact your loan officer before any offer is submitted to the listing agent.
Part of your success for getting an offer accepted will be a personal call from your loan officer selling your loan approval and answering questions on how to expedite the timeline for the seller and their Realtor to get paid. Think about it, how many loan officers call the listing agent to sell them on their client before the offer is presented?

2. Don’t low ball your offer, realize that you have competition.
Most homes in this market are getting multiple bids from other potential buyers. If you want to get a home while the rates and process are low, you will need to make a legitimate offer. There is no need to be scared about paying too much. Keep in mind that your appraisal will protect you if the home is not worth what you have offered.

3. Have a list of upgrades and / or extras in writing that you want to have included in the purchase price.
Trying to add them after the offer has been reviewed and accepted will likely lead to losing the home you want. Present this list and negotiate with them to your satisfaction before you write any earnest money check.

4. Bring your check book with you.
An offer without a good faith earnest money check is not taken seriously and will not be considered by the seller. The earnest money check does not have to be for the entire down payment, but it needs to be a significant amount. Earnest money checks are usually in the $2,000-$20,000 range.

5. Your offer probably won’t get approved on the spot.
If buying a pre-owned home, the selling agent will present the offer to the current owners and if buying new construction, the sales consultant will present the offer to the builder’s sales manager. This process normally takes a day or two, but all parties can leave with an understanding of how long the acceptance or re-negotiations timeline can take (example, seller will respond to your offer within 48 hours).

6. The renegotiation process is always stressful and emotional.
No matter what the change is to your offer, always ask how they came to that number. Many times there is a valid reason for a monetary adjustment that can be justified. However, never just accept it without an understanding of what it represents. Additionally, if there is an adjustment to the sales price, there needs to be a discussion about the effect that will have on the down payment, monthly payment, and closing cost. The loan pre-approval will need to be revisited before you do anything. It is essential to have your loan officer involved when and if a renegotiation comes about.

Are you ready to move forward with a purchase or refinance? Please give us a call at 888-810-1459 and let us help you secure financing for the purchase of a new home or save you money on the refinance of your existing home. Be sure to ask your loan officer about our closing costs incentives and our low rate guarantee!

Disclaimer: The information contained in this article has been prepared by an independent third party and is distributed to consumers for educational purposes only. The information is considered reliable but not guaranteed to be accurate. The opinions expressed in this article do not represent the opinions of Skyline Home Loans. Please consult with a licensed Realtor for expert advice regarding the purchase of a home.