7 ways how to write an offer on a house and how to win a bidding war on a house you really want?

These are the 7 ways how to write an offer on a house you really want.

1. Who are you making the offer to?

Who are you making the offer to? A family, an investor? Writing an offer to an investor is much different than writing an offer to the homeowner.

With a family, it is way more personal with attachment to the property. While you never want to write a lowball offer, sometimes an investor has more reasons to negotiate. But it depends on the nature of why they are selling because that could be said for either one — you’ll never know.

2. How much are you putting down?

The more you put down the more consideration you’ll get by showing you’re serious. A higher down payment means less money will be required from the bank, which can be ideal if a bidding war is pushing the price above and beyond what it might appraise for.

3. Waive your contingencies

Having a contingency in the contract can help protect yourself. A contingency is a specific thing that must be met in order to close a deal on the house. If they’re not met, the buyer is allowed to back out without losing any money.

However, if you really want the home & there are multiple offers — then you may need to adjust. You can waive the financial, appraisal, or inspection contingency if you want to show how badly you want the home.

There are risks; by waiving contingencies, you can lose room to renegotiate on price or terms. If you waive an inspection contingency and the inspection comes back with a serious issue, then you forced to deal with that.

You can decide to waive one if you choose; it can help make your offer stronger. You just need to be aware of the risks.

Download our complete winning offer guide. 15 Ways To Win Your Dream Home: Win The Bidding War — Or Get The Biggest Discount If There Isn’t One.

4. Don’t negotiate furniture.

Unless the seller has expressed interest, you are making an opinion on the value of their personal item. You don’t know what they paid for. The furniture is not worth losing the house.

5. Your offer price.

How you write your offer on a house is everything. The number one way to show disrespect and put the seller on edge is to send a lowball offer. It shows you aren’t that serious about the home. The more competitive the market, the closer you will have to offer to the list price. There are two main factors; the market and your offer strategy.

Having an effective offer strategy is the most important. Your agent should review this with you when putting in an offer to make sure that you get the best deal possible & win your dream home. Your agent should also be good at getting enough information out of the seller so that you are able to make the strongest offer possible.

6. Do your due diligence.

Never pass up an inspection, and make sure you do your due diligence financially as well. The inspection helps you understand what your buying and in what condition.

With that said, you aren’t buying a perfect home. The common mistake is letting small details derail a deal. What we advise our clients is how much each will affect them long term. Then we take into account all of the details and if necessary, we focus on only negotiating larger ticket items. It’s not worth negotiating a $100 item. If you’re asking for repairs that cost $50 or even $100, then it may be time to re-evaluate your priorities.

7. Make sure your agent has great rapport with the sellers.

The better the relationship the more willing they will be to negotiate. It will help the negotiations be more amicable. When your agent is on good terms they will be able to get more information from the sellers (making it possible to have a better negotiation), but also it will make the other side more willing to come to a common ground.

How to write an offer on a house and how to win a bidding war has many factors. The conclusion.

There are many factors involved, how bad you really want the home, the market competitiveness, who is involved, and your entire offer strategy. This should help get you start but if you would like more detail on how to write a winning offer on a house or how to win a bidding war, then speak with me directly or feel free to download my free guide. The guide is the ultimate checklist, 15 Ways To Win Your Dream Home: Win The Bidding War — Or Get The Biggest Discount If There Isn’t One.

Secret Tip: What is an escalation clause? We go into them in detail in the guide. But, an escalation clause is like an escalator. Meaning if someone puts in an offer over your price X then you are saying you will move up to price Y. There’s a lot more to it, but to keep it simple it’s a safety net in a competitive market.