Are you really ready to submit an offer?

Are you really ready to submit an offer?

You have found a great home. Decided on a price by looking at the comparables with your Realtor.

You have written the offer!!! YIKES, you really did it!!!

Now what?

Your Realtor will submit it to the other Realtor who will present it to the seller for their approval or counter.
Did you give your agent everything needed to submit a strong offer?

1 - PRE-APPROVAL LETTER. Best if it includes a statement that they have verified your assets and stating all 3 FICO scores.

2 - Your credit report. At least the front page with only the last 4 digits of the SSN showing
3 - A copy of your proof of funds showing liquid assets (many banks will not accept stock accounts). This must be dated within the last 30 days.  Sometimes a screen shot is acceptable, provided it shows the banks name, your name, the account number and the date of the document.

4 - A personal letter to the homeowner stating why you like the home, how much you like everything they did to it. Be specific if possible - shutters, counter tops, paint, floor coverings, landscaping, flowers, etc), how it will make you and your family's lives better. Things you have in common with the seller - kids, sports, hobbies, schools, etc. Anything that is truthful and relevant. People like to deal with those who are similar to them in some way.

5 - Anything else the seller's Realtor requests to be privided by the buyer or buyer's Realtor.

6 - If the offer is contingent on another property closing, provide the Escrow or Closing agent's complete contact information along with the escrow/file number. Include the contract. Note the closing date and what contingencies still need to be met.

Must all these items be submitted to the Listing Agent? NO. However, the more of these you can provide to your Realtor, the better chance your offer has of being accepted, especially if your offer is not at asking price or there are multiple offers. I have been in multiple offer situations where the highest price AND best terms did not get the home...one or more of the above made the difference.

Please note my other related posts:

Are you really ready to buy a home?
http://sandiegohomes4ucom.blogspot.com/2010/03/are-you-really-ready-to-buy-home.html

The differences in buying Bank Owned homes, Short Sales & Traditional sales.
http://sandiegohomes4ucom.blogspot.com/2009/08/foreclosedbank-owned-homes-short-sales.html



Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Agent

Donna "Sunshine" Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified
RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

See my Short Sale and Foreclosure Avoidance Web Site at
http://HAFAShortSaleConsultant.com/
for more information & free reports.

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http://www.sandiegohomes4u.com/RealEstateTrends.htm
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http://www.sandiegohomes4u.com/MLS_Search.htm
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