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How To Make A Real Estate Offer That Gets Accepted At First Glance

The real estate market today is super competitive and making a real estate offer that sellers accept at first glance is not as easy.

real estate offerIf you are in the business of flipping houses, then you probably know by now that the best deals go very quickly. The only way you will be able to succeed in this business is by making a real estate offer that stands out from the crowd. The goal is to make an offer that will make a seller jump at it without hesitation.

For starters, each house has a story behind it and a reason why it’s on sale. Every seller is different so you cannot use a blanket approach. Cater your offers to suit specific situations. The more information you can collect about a dealer, the better. To make things a little easier for you, here are five ways that you can make a real estate offer that sticks. Remember that not all these five points will apply to your particular situation so it’s up to you to do some digging around and find what suits you.

How To Make A Real Estate Offer That Sticks

1. Make An Offer That Is Higher Than The Asking Price

You do not have to go too high or break the 70% rule. A great strategy would be to wait for the asking price to go down and then make an offer that is slightly higher. You can even go as high as 20% provided you stick to the 70% rule and you do not do any eraser math to make the numbers work for you.

2. Put In Some Skin In The Game

If you can, put in your own cash. This way, the bank will not view you as subject to financing. Moreover, cash offers are very attractive to banks.

3. Wave Inspections

Unless there is no one else putting an offer on a specific property, it’s a good idea to wave inspections. It can be scary but with a little help from your broker, you can determine if a particular property has people putting offers on it or not.

4. Promise To Close In 14 Days Or Less

Banks are not able to close in two weeks or less but when they see that you are willing and able to do so in a short period of time, your offer will stand out from the rest. Of course, you should only promise what you can deliver.

5. Know Who The Seller Is

Try as much as possible to understand who the seller is as well as their situation. Remember that it may not be possible or even practical to use the same approach with every seller so you need to structure your offer in a way that will appeal to each particular seller.

Conclusion

These five secrets are just a few examples of how you can make exciting offers to potential sellers. When starting out you may not strike very good deals but this should not discourage you. Ensure you stick to your maximum allowed offer and don’t make decisions out of emotion.

What are some of the tips you think can be used to make a real estate offer that sticks? Share your thoughts by leaving a comment below.

Image by Cool Design from freedigitalphotos.net.

by Mike LaCava

I flip houses for a living and help other people do the same. At home I'm just a regular old Dad who likes to sneak away to play some golf when I can. Say hello by leaving a comment below ~ talk soon!

  1. I really appreciate your help. Only my girl is giving me a hard time about trying to flip my first house. I’be worked on houses most of my life until the last down turn.She got me to seek work elsewere.I’be been with the Port of Indiana for 5yrs.now but I really want to get into flipping houses and am tired of paycheck to paycheck. I need to show her I can make good money at it. Any ideas?

    Reply
    1. Hi Tim
      That is a tough one because I think most of us go through that at one time or another. My wife was concerned as well when I was leaving my flooring career to start this. She is looking for security so I get it. You should have her check out my blogs and follow along as well so she gets to know me and see what I have done. Tell her you not going to quit your day job until you are ready but in the meantime ask her for her support as you share your dreams with her.

      Reply
  2. Hello mike I just wanted to say I enjoy reading your emails of your house flipping I want to Start flipping homes but I’m not sure if I can with only little money to start . Anyway you have a great day

    Reply
    1. Hi Pete
      You sure can. Check out all my blogs and see how I started. You can do this with little money but you have to learn how to access OPM. Other Peoples Money.

      Reply
  3. This is some very helpful advice. Understanding the owners motivation is very important. Thank you!

    Reply
    1. No problem Antoinette! Happy to help

      Reply

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