- 1). Pay cash for the home. Even if a seller accepts your offer, your mortgage company may decide not to finance the property if the sale price exceeds the home's value. Pay in cash to eliminate the middleman (the mortgage company) and speed the buying process.
- 2). Get preapproved. Acquiring a home loan approval before bidding on a home demonstrates your seriousness. Sellers can accept your offer with confidence knowing that you meet the criteria for a home loan.
- 3). Limit contingencies and requests. Some buyers include contingencies with their bid wherein the offer is subject to a satisfactory home inspection or subject to the sale of their existing home. What's more, some buyers ask sellers to pay their closing costs, offer a home warranty or make updates or repairs to the house. Too many stipulations can cause a seller to pass on your offer. Consult your Realtor for information on fair, necessary requests.
- 4). Prepare for a fast mortgage closing. Some sellers want to complete the purchase process quickly. Be in a position to close on the loan and move. If you're in a rental agreement, talk to your landlord about early termination or switch to a month-to-month agreement. If you're not in a position to close within 30 days, sellers may pass on your offer.
- 5). Offer a fair price for the property. Realtors can advise you on a fair offer for the home. Because sellers want to get as much for the home as possible, offers close to the asking price (or offering the full asking price) help get your bid accepted.
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