When looking at houses, you should always keep in mind that other people may be looking at the same house as you. In some cases, your dream home may also be someone else’s. This is why it is important to make a strong offer that sticks. One that will catch the buyer’s attention, and hopefully, get you your house.
Drafting an offer is something that should be done alongside your agent. Hopefully it’s moi. There are different techniques all around. It’s going to depend on what market you’re specifically in, but I’m going to just focus on the Bay Area, Tri-Valley, East Bay, which are the areas that I serve.
And, obviously, it’s also property specific. Every city is different. Every property is different. The market changes. So, this is just as of right now. We’re in COVID. The market is crazy. It is a seller’s market for sure, so your offer as a buyer has to be super, super strong. Almost the strongest necessary ever.
In many cases, price is a huge, huge factor. That being said, going above asking in this market is very, very common, especially for my specific buyers (investors and first time home buyers) for their budget. It’s also going to be more attractive to the seller if you’re writing an offer and you’re paying most of the fees, the costs associated. Especially if the property is new to market and hasn’t been sitting for a while.
So, even if it’s a couple extra thousand dollars and you don’t have that in your budget, I’m happy to help you with whatever I can. Again, that’s going to be property and buyer specific. So, it just really depends. It’s my job to know the ins and outs of how long it’s been on the market, the comps in the area, how competitive the offers need to be.
Quick closing is another factor sellers consider when looking at offers. So, if you have a loan, obviously working with a lender that’s able to provide quick timelines is very important as well.
Lastly, a cover letter, A sweet, sweet cover letter. So, even if you’re an investor and fixing and flipping a home is a passion of yours, you’re more than welcome to draft a letter to state that. I also write a cover letter as an agent introducing myself and introducing you as my client. And then you can write a cover letter about yourself. So, if you are a first time home buyer, for example, and you have beautiful children or a beautiful wife, or a beautiful husband, you just write a sweet letter about the things that you do in your lifestyle and why this property would be perfect for you. And then we package that up and it’ll look really, really pretty.
During all of this, I’m building rapport on my end with the agent the whole time as well. Phone calls, text messages, emails, letting them know that we’re going to write an offer, creating a relationship.
So, those are all important things. There’re a million other things, but I’m going to dare you guys to find out by writing an offer with me as to how we can make your offer the strongest. I hope those tips are helpful, and I look forward to sharing more buyer tips with you guys soon.
Ashley Lew is a Bay Area California Real Estate Agent for Elevate Real Estate. DRE# 02095803
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