Keeping in Tune With the Market: How to Get Your Offer Accepted Without Breaking the Bank

Long Island Real Estate Podcast with Karen and Joe Donovan

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7+ y ago

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If you’re a homebuyer competing against other offers on the same home, here are three strategies you can use to make your offer stand out.

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Today I’m answering a question from Amanda Fabian, who asks, “How do I get my offer accepted when there are four other competing offers on a home?” First of all, congratulations to Amanda, who will receive a $10 Panera gift card for her question being chosen. To get your offer accepted when there are other competing offers on the same home, I have three strategies you can use: 1. Make your offer as competitive as you can without going over your budget. If you’re going with a higher financing amount, you must be competitive against someone who might be putting more cash into the deal. Also, make sure you have your pre-approval letter and that you submit it at the same time you put your offer in. Your offer must be as strong as possible.

2. Find out from the other agent or owner what their hot buttons are. In other words, does the owner want a quick closing or do they need extra time? When you structure your offer, make sure to add that in. Does the owner have a special appliance they want to take with them? Stress that the appliance can go with the owner and you don’t insist on having it stay.

3. Write a personal note from the heart. This one is my secret weapon. When you do this, find out a little bit about the owner and share with them some information about your family and how you will love the home as much as they did. If you have a cute little kid or puppy, include pictures of them in the note.

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Your offer must be as strong as possible.

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If you have a real estate question that’s on your mind, don’t hesitate to email it to me. If I answer it in a future video, you’ll receive a $10 gift card. Until next time, make it a great day!

16 episodes