Friday, April 18, 2014

"Staging" Your Purchase Offers


Tip Sheet
You already know staging your listings can result in more motivated offers, but what about staging your offers to increase acceptance? Just like a property staging, an offer staging should be clean, organized and ready to make an impression.

The best offer anyone can make is the highest, in cash, with no contingencies. If your buyers don't have such an offer, here are a few ways for their offer to get more attention.

Add a cover sheet explaining what the sellers and listing agent will see, and in what order—it looks organized and professional.

Add a letter of introduction about your buyers. Within a few lines say something positive about the buyers and why they love this particular house—sometimes it makes the deal.

Cover your bases on the purchase contract by checking for all signatures and initials where required. Show proof of financing with a mortgage pre-approval letter, attach a copy of the earnest money check, and provide anything else that will solidify your buyer's position. Make sure to follow any listing agent instructions and ensure that all paperwork is tidy.

When facing competition from multiple offers, get creative. Encourage your buyers to forgo or shorten contingency periods, shorten the escrow period, increase their earnest money deposit, and/or increase their down payment. Get as much information as possible from the listing agent to see what will make the sellers "tick."

Encourage your buyers to be first even if a house has languished on the market because it's priced too high. Often being the first one to make a reasonable offer can create a deal before the sellers decide to reduce.

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