4 Tips to Making Your Purchase Offer Stand Out

With the national housing market bouncing back over the past year, it’s becoming more and more common to see homes listed for sale receiving multiple offers on them. If you find yourself (as a buyer) in such a situation, it’s important that your purchase offer stand out and get noticed. Here are some ways to get your purchase offer to stand out from the crowd.

1. Learn More About the Sellers. You need to learn as much as possible about the sellers so that you can best craft your purchase offer. Are they moving out of town? Why? What is their timeline to move? Do they need to rent-back the home after the sale? Your agent is the key to finding out this information from the sellers’ agent. With this information you should be able to personalize the purchase offer to meet the needs of the sellers whereas most other bidders will likely not take the time to do this.

2. Don’t Lowball Your Initial Offer. Normally, you wouldn’t start a real estate negotiation with your best offer. However, when markets do get competitive as they are in certain neighborhoods of the particular city, starting with a low offer may backfire. Your best initial move is to present your strongest offer upfront when you know that there are other bidders involved. This is because in many cases there is no second round of bidding as the sellers are in a hurry to close this sale in order to purchase another home. Not sure what to bid? Your real estate agent should be able to provide you with a list of comparable recent San Antonio real estate sales that you can use as a guideline. Of course, if there are other buyers bidding up the price above fair market value, just walk away and find another home to buy.

3. Don’t Ask the Sellers for too much. Normally, most buyers typically ask the seller to take care of minor repairs or to include an appliance with the sale of the home. One way to make your purchase offer stand out is to try and keep these requests to an absolute minimum. It may be tough to do this when you receive the home inspection reports listing every minor fault, but it’s important that you do as it signals your level of interest in getting the deal done.

4. Include a Personalized Note with the Purchase Offer. While this may sound far-fetched, it actually works. The note should strike an emotional bond with the seller to make your offer more tempting. Don’t forget that the seller is a person who’s likely going through an emotional period in their life (moving is always a little emotional). The note should be simple and talk a bit about your family and why you want to purchase this particular San Antonio home. Complimenting the seller on some facets of the home is also a good idea. While you won’t win every home you bid on using this technique, it will help you stand out from the other offers.

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