What it Takes to Craft an Irresistible Offer

Wondering what it takes to craft an irresistible offer? Here's what home sellers in Wisconsin want to see:

Pre-Approval Letter

Most sellers won't consider an offer without a pre-approval. However, having just any pre-approval is not enough. Most sellers trust their listing agent's opinion, and that's why they hired them. The lender for your pre-approval matters most. Big banks like Wells Fargo, US Bank, and Chase tend to hand out pre-approvals without doing the due diligence needed to know if a buyer truly qualifies until they are deep into a transaction, resulting in many falling through. Along with this, they are quite difficult to work with and communicate with, resulting in timelines being pushed back by weeks! I advise all buyers to ask their agent for referrals because most agents know of the best local lenders. Shout out to Ethan Brooks!

Flexible Closing Dates

Ideally, it is important to accommodate the seller's timeline when scheduling the closing. However, this may vary from buyer to buyer. It's not the end of the world if you have a timeline you need to stick to yourself.

Earnest Money Deposit

A substantial deposit can demonstrate your commitment to the purchase of the home and your financial capability. Keep in mind that the earnest money deposit you put down goes towards the amount you must bring to the closing table. So, a higher deposit won't result in you spending more out of pocket.

Fair Price

While everyone wants a good deal, especially in today's market, offering a fair and competitive price substantially increases your chances of acceptance. This may seem like common knowledge, but many buyers miss out on a property because they want to get the best possible price. That's why it's important to have your agent run comparable properties to determine a fair and competitive price.

Inspection Flexibility

Consider being flexible on minor repairs flagged during the inspection. It can make negotiations smoother. While I would never advise looking past significant repairs or damages that can cause more harm if not taken care of, I do think trying to push a seller to fix every little detail can deter them from helping you out in the event something unexpectedly comes up before closing. It's important to give a little to get a little.

Quick Response Time

Lastly, it's important to be prompt in responding to counteroffers or requests for additional information. Not only does it show your eagerness to move forward, but in our highly competitive and fast-moving market, every minute counts. In my personal experience, I had a buyer miss out on a home they fell in love with because they wanted to contemplate the terms and price of their offer during the 2-hour drive home from the showing. Within those 2 hours, the sellers accepted another offer. Keep in mind that this home was on the market for less than 48 hours.

Remember, every seller's situation is unique. So, what may win one seller over may not win another. It's crucial for your agent to gather as much information from the listing agent as possible. That way, you can tailor your offer to best fit that specific seller. I hope these tips help you better understand what it takes to get an accepted offer. Happy house hunting!