Posted By Alan Donald @ May 13th 2009 1:45pm In: Buyers


You are in the market to buy a home and you found a house that's ideal for you - it is in the right location and meets all your "needs" and "wants". The price is the only thing that is keeping you from making an offer, because you feel that it is more than you can afford... how can you improve the odds of the Seller accepting your offer (that is much lower than their asking price)?

In addition to a market justification for a low offer (which your REALTOR can provide) an important strategy you should use is to make your offer as "clean" as possible by not asking for special conditions or contingencies.

  • Avoid making demands on the sellers for minor repairs, such as cutting down the dead tree in the back yard or conveying their plasma TV.
  • Be as flexible as possible about a proposed closing date to accommodate the Seller's plans.
  • Include with your offer a full pre-approval letter from your local lender for the purchase of this particular property (without showing your maximum approved amount, to avoid showing your hand upfront).
  • Offer a larger-than-usual earnest money deposit to persuade the sellers that you are a serious buyer and to make it harder for them to "just say no".

Each situation is different, but the "cleaner" and more "solid" your offer is, the more likely the sellers are to accept it!


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