Here’s how to make a winning offer to a home seller who values speed.
When we are competing with other buyers to purchase a property, we have to tailor our offers to fit the seller’s needs. If the seller needs a quick close, we have to put certain things in the offer to make it attractive. Here are three tips on how to do that:
1. Inspection. Usually in Arizona, the inspection period is 10 days. If we reduce this to three or five days or waive the inspection altogether, you can cut down time on the close.
2. Appraisal. Right after the inspection is done, you order an appraisal. This usually takes about 10 days as well. What we do is write verbiage into the contract that shows the seller we will have an appraisal within 24 hours of the completed inspection and pay for a rush appraisal. Instead of waiting 10 days, we can get it done in two to five days.
3. Pre-approval from a lender. Not just a pre-approval letter, but a fully underwritten pre-approval with all documents submitted. This can cut the time from 30 to 45 days to 20 to 25 days. This will help the seller close even quicker and could put you over the edge.
If you are trying to buy a home and the seller has indicated they would like to close as soon as possible, start with these three tips. If you need more advice or have any questions that I can answer about real estate, don’t hesitate to contact me via phone or email today. I look forward to hearing from you.