Problem – There’s a lot of buyers in San Diego right now and there is very little inventory. We’re at record lows as far as homes for sale which means “it’s hard out here for a buyer” (I took that line from Hustle & Flow)! What can you as a buyer do to increase your odds of getting your offer accepted over and above all other buyers?
Well lucky for you, I figured this answer out years ago after much experience in losing the perfect deal…I buckled down and got serious about figuring out the formula which would allow a buyer get the home, every single time! Remember, each one of these items is powerful alone but if you combine them, you will have a huge advantage over your competition! Enjoy!
1. Love Letter – Write a letter to the seller introducing who you are and why they should sell to you! This should have a nice photo of you and/or your family or whatever is important to you. This also emotionally involves the seller!
2. Put a high EMD! – Don’t go cheap on your deposit, put it at whatever you can stomach or afford. This tells the owner that you are one serious buyer! Use some Caution here, as you or your agent should know the contract like the back of your hand in order to avoid any situations where you would lose your deposit!
3. Shorten Your Time Frames – This includes shortening the time you need to conduct your home inspection, appraisal, figuring out your loan and of course closing (if preferred by seller). This is where you can win over the seller without paying top dollar.
4. Who Your Lender is Matters! – This is crucial! Make sure that your lender can fund quickly and that they completely “Underwrite” You! This will allow you to close quickly, accommodate the seller, remove contingencies early (#3) and give the seller the peace of mind that you are the right buyer for their place!
5. Guarantee! – What type of penalty or Guarantee are you attaching to your offer? Are you putting your money where your mouth is? If not, you should rethink this strategy! The more you can convince the seller that you won’t lolligag, the better off you’ll be!
6. How to present your offer? Online VS in Person – Let’s be real, 99.9% of all offers are either emailed or faxed to the seller. If you show up in person, rather then email your offer like everyone else, you have a HUGE advantage!!!
7. Sell Yourself! – When ever the chance presents itself, SELL, SELL, and SELL some more! Let them know you are the perfect buyer for this home and that you will perform! This goes a long way and some sellers chose re-assurance over price!
Good Home Hunting! Watch and Listen here: https://www.youtube.com/watch?v=551HgrxVyH0
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