Strategies for crafting and making the best possible offer to buy/purchase real estate

Making the best offer Crafting Offers that stand out https://JGraff.AdvisorsMortgage.com 732.500.6883 SIMPLIFY and make listing agents work easier and more straight forward and clear. Get the app through DU and CLEAR all the conditions – and then show that! Strategies: 1 - Call The Listing Agent Before Submitting Your Offer (leave a message and send a video message…follow up) What’s important to the seller?? 2 - Always include an offer checklist (please see below) 3 - Deliver Your Offer To The Listing Agent In Person 4 – AND/OR Present Your Offer With Video - Effectively articulating highlights (may be MORE effective than in person) 5 - Larger EMD Earnest Money Deposit (Shows seriousness/financial ability) 6 – Buyer’s Personalized Letter To The Seller ??? Explain in great detail WHY the buyer loves the home – Stay away from ethnicity, kids, etc. STICK to property! Edify the property – a classic! Always, always edify the property! 7 - Offer Free Occupancy (A week or two or a few – no rent – lowers anxiety!...) 8 - Write An Escalation Clause into your offer (state your buyer will pay x amount of dollars above the highest offer! OTHERS may offer this too…???) 9 - Bring Your Inspector To The Showing (Works well…1hr to 1.5hr…average home inspection is about 2hrs…can do enough to put buyer at ease to WAIVE THE INSPECTION CONTINGENCY – WIN/WIN More appealing offer AND buyer is more comfortable!) CAREFUL/CAUTION!! 10 - Have your lender call listing agent to present the buyers approval (Can’t show details: credit scores, income, etc. Can share aspects of approval…W2ed or self employed?? VERIFY down payment, type of loan, ID potential “hiccups” UP front…Lender needs to be proactive! To give listing agent confidence! ALWAYS BETTER ON VIDEO, right? ZOOM and an email 11 - Have Your lender submit for a PIW - GUARANTEES top of list -PROPERTY INSPECTION WAIVER – We are getting high percentage on current purchases through our companies UW (underwriting) system Offer checklist: Offer items: (then list each in detail!) Personal Property Price Type of Financing EMD Amount Closing Date Possession Home Warranty Time Limit Property Inspection Other Terms & Conditions FSBO are selling themselves, inventory at an all time low VA FHA fallacies, myths, misconceptions... Some lender’s won’t share DU/LP…!!! Shorten your contingencies Investigation contingencies Get basic inspections done in 5-10 days And receive and review seller disclosures The sooner you remove the better Same for appraisal and loan contingencies Pick the best lender!! Quicker the better: appraisal ordered in one day! Loan approval 10 days or 21 days?? “Buyer agrees to pay up to $20,000 over the APPRAISED value – not to exceed the purchase price if the appraisal comes in low” make this crystal clear – in person AND in video (ZOOM emailed and corroborated with call and text) Minimum property requirements VA FHA few hundred bucks (missing CO2s) clause: Appraisal clause: “Buyer shall pay up to $x,xxx appraisal required repairs if necessary” 90% not going to have any EXCALATION CLAUSE (now in use/common!): “Buyer hereby agrees to pay $x,xxx above highest offer received by seller UP TO $xxx,xxx . Seller shall provide proof of this offer” "Lunch and Learn "Offers that Standout" by Advisors in Holmdel Hi, I am having a lunch and learn at our new Holmdel office. 39 Main Street Holmdel The topic will be .How to make your clients stand out in a multi offer situation. We will be discussing: 1- Du/LP findings. How to read them, How to use them, how to explain to the other agent how important this is. 2- Pre approval vs pre qual. Many differences 3- Inspection waivers pros/cons 4- Waiving appraisals 5- Large down payments vs small down payment or cash 6- Removing sale contingencys 7- Why FHA is looked down on vs a conventional? 8- Open questions and answers. Lunch will be served. Looking forward to seeing you and hearing all of your ideas..."