What Sellers Look for From a Purchase Offer

When you find a home that you like, the first step in the purchase process is to make an offer to the seller. This person is under no obligation to accept your terms or to make a counteroffer. However, there are steps that you can take to maximize the odds that your offer is accepted either on the first try or after a period of negotiations.

Home Purchase Offer Letter

How Soon Can You Close After The Purchase Offer?

If a seller is looking to move or get out of a mortgage quickly, you should offer to close as soon as possible. In some cases, it could mean closing on a deal the same day that the offer is accepted. To make it easier to close in a timely manner, get conditional mortgage approval from a lender. You should also be sure that your financial records are in order so that they can be reviewed quickly by the underwriter.

How Are You Paying for the House?

There are many different types of loan products that you can use to purchase a house. If you decide to use an FHA or USDA loan, the lender may need to perform its own inspection prior to closing. It may also take some time to create gift letters and verify the source of those gifts.

Ideally, you will look to get a conventional loan or pay for the house in cash if you are interested in making the strongest possible offer. A loan officer in Las Vegas can help you learn more about your options and which ones you qualify for. (Read more on what to consider when selecting a mortgage.)

Don’t Make the Deal Contingent on an Inspection

It is critical that you inspect a home before you purchase it. However, you may want to assure the seller that the results of the inspection won’t kill a deal. In such a scenario, you can avoid surprises after moving in while giving the sellers confidence that the home can be sold in a timely manner.