OfferAre you ready to buy your dream home in Myrtle Beach or the surrounding area? Finding a perfect house for you and your family can be difficult. Once you have found the ideal place, the next step is to make your offer. There are ways to make an offer and stand out from other buyers. You will be competing against multiple buyers for your dream home, and there are ways to make your offer the one the seller will accept. Feel confident with your offer by following one of the suggestions below. 

Go Above the Asking Price

If you are in a multiple-bid situation, you want to go above the asking price versus making a low-ball offer. Don’t let this thought overwhelm you. Going above lets you get the seller’s attention; they will know you are a serious buyer. You don’t have to go too much above the asking price, and sometimes, it only takes $2,000-3,000 above the asking price to make a difference. Ensure your offer is aligned with the home’s value and large enough to get the seller’s attention.

A Strong Earnest Money Deposit

An earnest money deposit is the money submitted as a buyer to show the seller how committed you are to purchasing a home. It is usually required by sellers so that they are protected in case you, the buyer, back out and they have to put the house back on the market.  Even if an earnest money deposit is not required, making the offer makes you look like a serious buyer, and you will stand out again.

Make A Larger Down Payment

Making a larger down payment is another way to show sellers how serious you are as a buyer and shows you are in an excellent financial situation. It also shows that you are responsible and stable when you make a larger down payment than necessary. Indeed, don’t go above your means, but choose the larger down payment if you are in the position.

Escalation Clause

An escalation clause is an offer you submit to a buyer to show you are willing to increase your initial asking offer if a more prominent offer comes in. You can set the maximum price. Sometimes the seller would instead make a counteroffer or up their asking price before accepting an escalation clause. Hire a lawyer to write the escalation clause if this is an option you consider.

Cash Offer

A cash offer shows you are serious and is also a way to expedite the buying process. Paying cash also keeps business between the buyer and the seller, leaving out financial lenders. The buyer and seller both feel more in control with cash payment. Paying with cash will give the seller the confidence they need to choose you as their buyer.

Pay Attention to Details

Making sure your offer is complete may seem too simple, but the truth is that details are often missed and result in an incomplete offer. Information about the purchase agreement may be omitted, and disclosures may be missing. Pay attention to the details to ensure your offer is complete. If not, a seller may not bother with your offer and pay attention to complete ones. With multiple offers, you want to ensure you have done everything possible to feel confident about your offer.

Be Prepared

When making an offer on your dream house, you want to act fast and ensure you take the necessary steps to make your offer stand out. Be prepared. One way to do this is to be pre-approved for a mortgage. When you’re preapproved, you’ll know exactly how much money you have to work with and how much you can afford, and it provides you credibility. 

Contact one of our real estate agents today at Better Homes and Gardens Real Estate Elliott Coastal Living if you are searching for your dream home. You will receive all the support you need and more to make your dream a reality.