When you make an offer on a house, the seller can accept it, reject it, or counter it. If the offer is too low, the seller may reject it outright. Or the seller may counter the offer, naming a price or other specifications that are more in line with his or her expectations.
If a property is in strong demand, it may receive several offers. Then the seller may choose to accept the highest one or the one from the most qualified buyer.
Here are some tips to make sure your offer is accepted in any market:
- Avoid making demands on the sellers for minor repairs, such as cutting down the dead tree in the back yard or conveying their plasma TV.
- Limit your contingencies to those most important to you, such as financing, inspections, and the sale of your current home if necessary.
- Be as flexible as possible about a proposed closing date to accommodate the seller's plans.
- Include with your offer a full pre-approval letter from your local lender for the purchase of this particular property (without any amounts, to avoid showing your hand).
- Offer a larger-than-usual earnest money deposit to persuade the sellers that you are a serious buyer and to make it harder for them to "just say no".