Getting Offers Accepted
There are times when your offer may be quickly accepted or rejected, but quite often an offer will sit out there for weeks without any response which leaves you in limbo. When you consider that sellers will often have to choose between multiple offers, getting offers accepted can be a trying experience. Here are a few tips that will help get your offers noticed and acted upon in a faster manner. While not all offers will be accepted, it is better to know sooner than later.
Keep the Offer Clean
If you are bidding on a property that has several other bidders, you will need to make a clean, clear offer that is easy to understand. A sloppy or incomplete offer, even one that is missing a single signature, can doom your chances immediately. So, be sure to fill out the contracts correctly and go over your presentation so that it is clear and clean. You may still get rejected, but often the notice will come sooner since you do not have what the seller wants. It’s not the best news, but at least you don’t have to wait weeks to find out.
Finances in Order
No matter the clarity of your offer, if the finances are not clear, then you might be rejected quickly even if it is the highest bid for the property. You will need to show that the finances are present for you to make the purchase and be sure to update the information so that it is no more than thirty days old. The more details you provide in your proof of funds, the more serious your offer will be taken if it ranks among the best.
Plan Your Concessions
The art of the deal so to speak is not making concessions, but how you negotiate them to the greatest effect. This means that you must be willing to move, but in a manner that still provides confidence to the seller. So, moving a little on the price or acquiescing to a specific demand is one thing, but quickly agreeing to concessions that move you way off your asking price may cause the seller to balk. After all, if you are willing to move that far, that quickly, there must be an unknown reason for doing so.
It’s More than the Price
Quite often, the highest bidder does not get the property. There are many factors as to why this is true, but the more you can make your offer stand out beyond the amount itself, the better your chances will be of getting the property. One way is to provide a reason why you made the offer at that amount. From similar sales to the condition of the property itself, use what you can to demonstrate why you bid what you did for the property. You may be surprised at the difference that it makes.
In the end, getting offers accepted often requires greater clarity in presentation, conceding where you can, quickly reacting to counter-offers, and providing good information on your funding sources. This will help make your offers cleaner, easier to understand, and provide a better chance of being accepted or at least considered quickly.