There really are tricks to getting your offer accepted over someone else’s offer. You just need to know how to structure the deal. Obviously, proof of funds and pre-approvals for any loans you will get are critically important to a seller choosing your offer. Many won’t even entertain an offer without them. Also, remember that to some people, the terms are even more important than the actual money. Your offer might be higher in actual dollars, but if your offer has more complicated terms, they might just pass on you. Don’t create extra issues. Try to meet the sellers on as many points as you can. Not only does this give them less to negotiate over, but it makes them feel like you value their terms. Using as few contingencies as possible will make your offer sweeter than someone who offer even thousands more in many cases.
Think about it, if you can save the seller time, you’re also saving the seller money.
So, make sure you know what inspections actually matter to you. If it won’t change your desire to purchase the property, why bother? Make sure that you have a way out, obviously, but the less inspections you require, the more attractive your offer will look.
If you know that there’s competition, make your first offer your best offer. Otherwise, you may lose the property. While, you will want to be quick to offer, being slower in your response to their counter offer can usually create just enough fear of loss in the seller to help gain you some leverage.
Are You Looking for a Hard Money Loan to Flip a House Or Buy A Rental Property?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.