11 Things You Can Do to Win When Writing an Offer

How many of these can you check off?

(The more you do, the greater your chance of winning.)

1. Offer above asking price

• • What is the highest price you’re willing to pay knowing that if you do not win you will not regret having offered more?

  • You also don’t want to regret the higher offer down the road.

2. Higher than expected escrow deposit

• • Are you able to provide a high escrow deposit to have more “skin in the game”? Doing so makes the seller feel like you’re a more serious buyer.

3. Waive the home inspection

   • Is the property newer? Are the systems and big ticket items newer or recently updated? A home warranty can also help cover unknown, big-ticket expenses. Is that a reasonable option for you?

4. Add an Escalation Clause

   • Automatically escalates your offer price, in increments you determine, up to the maximum you are willing to pay. (Particularly helpful in a competitive, multiple offer situation.)

5. Faster closing (consider with Per Diem for each day of delay)

   • Time is money. A faster closing can motivate the seller to go with your offer if other offers are similar. (Timing often depends on the lender.)

6. Pre-Underwritten loan approval

   • Working with a lender that collects financial documents before touring homes ensures the seller that you have the funds and credit required to close as well as a better understanding of the home-buying process.

7. Proof-of-funds letter if paying with cash/cash equivalent

   • Submitted with the offering documents so the seller knows you have the funds available.

8. Lender to call listing agent

   • Helps give the seller assurance that your financing will not be what delays or prevents completing the transaction.

9. Delayed closing and/or delayed possession

   • Offering to rent back to the seller for a short period can help them in their transition to a new home.

10. Offer to pay all or some portion of the seller’s closing costs

    • Different amounts for every transaction. Happens at closing.

11. Offer to cover any appraisal gap

    • If the appraisal report comes back lower than the agreed upon offer price, you can offer to cover all or some of that difference.

Disclaimer: These options are designed to help make your offer more attractive to a seller,

BUT some of them come with potential financial risk. Make sure you understand the risks before making a decision.