May 2, 2004

Buyers: Make your real estate offer stand out

By Donna Nardi, Realtor
Special to the Times

Given today’s market for homes, it is important that buyers make their offers stand out. In the real estate world, understanding how to make your home purchase offer stand up taller than the rest in a sellers’ market can ensure that you get the home you want.

There are several things you can do to make your offer stand out. At the top of that list is getting pre-approval from your lender. Pre-qualification is great, but pre-approval is best! Work on your credit score ahead of time. A score of 700+ is tremendous!

The second is to know your mind. Know before touring properties what features are most important to you! Get a checklist from your realtor. Understand what can be changed (cosmetic, landscaping, etc.), and what cannot be changed (location, etc.). That way, you can react quickly when you do find just the right property.

Check with the experts. Find a realtor who is willing to be on the lookout for you—even before the property hits the market. Realtors rub elbows with many others who have listings coming up and will keep a keen eye out for your home requirements.

Don’t be rude! Don’t indicate to the seller that you don’t like their décor, or want to make changes to the home they have so lovingly cared for! Show appreciation for their tender loving care. It may not be your style, but someone has loved and cared for it.

Reduce contingencies on your offer. Don’t be a picky buyer, sellers are looking for a smooth transaction. Make your offer crisp and clean. However, don’t make the mistake of waiving inspections!

Raise the price! If $5,000 to $10,000 would make the difference, cough it up! In the big scheme of things, that amount of money is negligible. You’ll have your home!

Shorten the escrow period. Many sellers are anxious to get to their new home.
Include a copy of the earnest money check of at least 3 percent.

Finally, make your family stand out. A straight contract is just paper to the seller. Make yourself special by becoming a person to the seller. Write a letter telling about yourself—some agents will do it for you—and your family. Often a seller will choose a lower offer because they want to help meet the buyer’s need—sometimes it’s the kids, or a pet, or a hobby that makes all the difference. Have your realtor present your offer in person. You can also include your bank statement, showing you have the funds available to purchase their home. Hand the seller the confidence they need.

Since commission fees are paid by the seller, don’t shortchange yourself and refuse the highly valuable service of a realtor! They can be your biggest advocate and best friend in this whirlwind market! With the right guidance, you can be in your dream home before you know it! Good luck!

Donna Nardi is a Willow Glen realtor with Prudential California Realty, 1213 Lincoln Avenue, phone (408) 918-4410 or www.happywayhome.com. She also lives in Willow Glen and will be writing this column every month. If there is a subject of interest you’d like to see explored or as a column, please contact her through the Web site via e-mail, donna.nardi@prurealty.com.