During your Chicago home search, you’ll probably face some competition for certain properties. Here’s how to make a standout offer and be memorable to sellers!
1. If you aren’t paying cash, Conventional financing is the next best thing. Conventional mortgages close faster than FHA or VA loans, which makes Conventional buyers more attractive to sellers. Of course, no matter what kind of financing you have, we’ll put your offer in the strongest possible light. Be sure to have a pre-approval letter from your lender!
2. Include a significant amount of earnest money with your offer. It’s hard for sellers to ignore a big check! Caution: earnest money isn’t the same thing as a down payment. Instead, it’s a good-faith deposit that shows your commitment to getting the deal done. It is credited to you at closing. But if you back out of the deal for reasons not covered by a contingency, you risk forfeiting the earnest money.
3. Offer something extra. For example, you could let the sellers stay in the home for a week after closing at no charge. Or, you could offer a credit towards their moving costs, or storage fees. You could promise to keep the bird feeder filled up. Try to find a thoughtful, appropriate gesture that will make your offer memorable. It doesn’t need to be expensive.
It’s helpful to know something about your seller’s situation, so you can an offer that meets their needs while protecting your own interests. We’ll find out as much information as we can for you, and help you write a compelling offer!
StartingPoint Realty – helping first-time home buyers since 2004!
StartingPoint Realty proudly serves first-time home buyers throughout the entire Chicago area. Get an introduction to home buying by attending our free home buying webinar! There’s no sales pressure and no obligation. Always feel welcome to contact us for help with your Chicago home buying questions!
Ryan Gable Broker/CEO Starting Point Realty
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