How to Cinch a Santa Cruz Real Estate Deal

Posted by Lauren Spencer on Saturday, July 11th, 2009 at 7:23am.

Making an offer on a piece of property is nerve wracking; especially if your offer is a little (or a lot) lower than the asking price. You can make your offer more appealing with a few simple additions that are good ways to cinch a Santa Cruz real estate deal.

Get Approved

It's easy to add a contingency to a bid that the offer is only valid when you get financing.  But that means you're keeping the seller waiting on pins and needles to find out if you qualify for financing. If your offer is low, the seller may be unwilling to accept the double whammy of a financial contingency and a low offer. Getting pre-approved for a loan is a much better incentive for a seller to accept a lower offer.

Increase Your Earnest Money

A larger amount of earnest money makes you seem more serious about purchasing the home.

KISS (Keep It Simple Silly)

A low bid with a lot of little requests or contingencies that complicate it will hurt your chances. Don't ask for drapes or appliances that were not originally offered by the seller.  And, don't ask for minor repair work that you can easily and inexpensively take care of yourself.

Write a Letter

Write a letter to the sellers telling them what you like about the home and why it's perfect for you and your family. It might sound trivial, but offers are often accepted just because the sellers like a buyer.

Let the Sellers Choose the Closing Date

Tell the sellers the closing date is negotiable. Do they need 60 days instead of 30?  Let them have it.  Do they need a few days to move out after closing? Give it to them.

Let me help you construct an offer that gets you a great price and cinches the deal. Contact me today at 831.662.6522 or email me at lauren@laurenspencer.com

 

LINKS:

Contingency

Getting pre-approved for a loan

Earnest money

About Lauren Spencer

Award-Winning Santa Cruz REALTOR®

Lauren Spencer is your local real estate expert, specializing in Santa Cruz real estate and surrounding communities—this is where she lives, works, and plays too. Let her know your questions about the community and county and she'll be happy to fill you in on all you want to know! Lauren Spencer has consistently been voted best local REALTOR in Santa Cruz and is always happy to offer her advice and expertise. Call her at: 800.226.4717.

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