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Contributing Factors to Being the Winning Offer on a Property

In Buyers, First-Time Buyers, Real Estate Advice by Doug PhelpsLeave a Comment

In our current Denver Front Range market, it is easy to think the only way for a buyer to be the winning offer on the property is to be the highest price. An offer by a buyer working with me as their agent is going to be better because we are better prepared making an offer. The highest priced offer doesn’t always win.

My goal is to have the greatest amount of leverage possible going into an offer and negotiations:

1. A proactive phone conversation from me to the listing agent for the property, to learn of all special needs and wants of the seller in a successful offer.

2. A strong letter from my buyer to the seller, connecting emotionally on relevant factors.

3. Offering special talents and expertise of the buyer to the seller. For example, in a recent transaction our offer included professional services by the buyer of interior design expertise ideas for the seller’s next home.

4. A strong letter of introduction by me, introducing the real estate and lender teams that work to bring the transaction to a successful close.

5. Agreement on contract dates and deadlines, especially inspection deadlines. The earlier we can make these, the more protection perceived for the seller.

6. In some instances, utilizing inspection and appraisal waivers, flexible closing and possession dates.

There are also contributing factors from a lender partner for a winning offer. These are essential and ones I insist upon:

1. A strong lender letter stating pre-approval. There is a difference between pre-qualification and pre-approval; the latter means more due diligence of the buyer’s qualifications has been done.

2. A proactive phone conversation from the lender to the listing agent for the property. This shows professionalism, allows explanation on how the pre-approval was determined, and adds confidence that the transaction will close.

3. A really good comfort and agreement on contract dates and deadlines, especially appraisal and loan conditions deadlines. The earlier we can make those the more protection perceived for the seller.

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