Keys to Make You and Your Offer Look GREAT!
When it is time to make an offer, I’ll help you formulate an offer that creates a ‘reasonable place to start’. Here are key points that should also be included in the offer presentation I will assist you with:
Key 1. Proof of ability to pay... have evidence of loan approval or cash. A pre-approval letter from a lender is best.
Key 2. Earnest Money...put down enough earnest money to make your offer look attractive to the seller (but not too much where he thinks he has you on the hook). 5% of the purchase price is typical in the Steamboat Springs market.
Key 3. Offer a price for the property you think is just below where the seller might accept, but that is not too low where the seller will be insulted or not respond. Some clients have started way too low and dug themselves in a negotiation hole from the beginning. They may have had a much better chance of getting a better price if they started at a higher initial offer.
Key 4. Be careful not to include too many terms, conditions & contingencies that might make your offer less desirable to the seller. Only include those terms, conditions & contingencies you really need or want. Also, adding on other conditions later in the counter offer makes for a difficult situation for a seller to accept.
Key 5. I will write an Offer Memo when presenting the offer to the listing agent and make a summary list of the STRONG features of both yourself and your offer.
Key 6. Part of that letter includes humanizing yourself to the seller, and might talk about your personal situation, desires and family. However, this information will not compromise our negotiating position but be interesting to a seller.
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