Do not insult the Seller

 

Making an offer can be looked at from several points of view, the most important of which, is that of the seller. (What?!..allow me to explain.)  When an offer makes a seller happy, the buyer has an advantage to getting his/her offer accepted.

 

To make a comparison and drive the point home, imagine you are the seller, sitting across the table from Buyer A and Buyer B.

 

Scenario One

Buyer A has Agent A fill out an offer for her.  Buyer A doesn't feel like learning a whole lot more about the home, other than if she can buy it for a certain price.  Agent A, agrees, and hastily writes an offer for Buyer A.  Looking a little disheveled, contract folded in half and tucked under her arm, Agent A walks into the room. The seller is with his agent. Agent A unfolds the offer and stumbles over the offer amount and no other details.  The seller's agent (known as the listing agent) thanks Agent A and dismisses her.

 

Scenario Two

Agent B spends time with Buyer B explaining disclosures and reports that seller has painstakingly filled out to inform the Buyer about the condition of the home as the seller knows it.  Buyer B acknowledges having read all disclosures and reports by initialing each one.

Agent B knows the contract inside and out and walks Buyer B through each of the paragraphs, its importance and significance depending on how they are filled in.

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Buyer B has had a chance to thoroughly look over the closed sales near the home the Buyer is making an offer on. Buyer B has also spoken with his lender to know what loan amount she qualifies for and, combined with closed sale information, can chose what she wants to offer.  She hands her agent a copy of her pre-approval letter (a letter of promise from the lender that they do qualify for the requested loan), which her agent will present with her offer.

 

Based on understanding the condition of the home from the seller, understanding the contract, understanding comparable sales, Buyer B completes her offer.

 

Agent B has already established a professional relationship with the Seller's agent, either over the phone before offer presentation, or through years of experience in the field.  Agent B is well dressed, organized, and ready to present an offer to the Seller. Agent B walks in politely and compliments the seller on the home.  She presents all of the appropriate pre-offer documents to the Seller, including the agency disclosure, signed reports and disclosures, and the pre-approval letter.  She then goes over her Buyer's offer in detail with the Seller and the Seller's agent, and being able and poised to answer any questions the seller may have about the offer or Agent B's client.

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All things remaining the same, the second scenario has a much higher chance of actually closing escrow. Completing documents correctly with all necessary signatures can be very tedious after entering into contract.  

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Now, imagine this! Because the second agent was so much more organized, polite, well put together and thorough, the offer Agent B made, WHICH HAPPENED TO BE THOUSANDS OF DOLLARS LESS THAN OFFER A, was accepted despite the fact that it was not for as much money.

Thank goodness You chose Agent B! (Or should I say Agent "D"?)

 

So your offer gets accepted, What comes next?