I think when it is time for a Home Seller to accept an offer from a Buyer that there are many thoughts and emotions bouncing around in the Sellers head. There is price, time factors, perhaps outside considerations and influences, and even the liability of the Buyers.
The Seller probably has some fear and doubt. The seller has two moves; moving out of the home and into another home (they gotta live somewhere). There is so much to do and suddenly time speeds up and time may seem too short.
The Seller can be overwhelmed with offers – which is the best?
Normally cash offers go to the top of the heap but they don’t always win. This week our office wrote a pre-approval letter for a buyer who was against three cash buyers and our customer’s offer was accepted ! Why?
I think two things happened. First, The Realtor really did a good job presenting the Buyers as people, as a family, and told why they wanted to purchase this particular house. Second, our office wrote an excellent pre-approval letter. Why was it excellent ? Because the letter mentioned the credit scores and credit; the letter stated that we had a complete full loan package; the letter stated that the loan had been entered via computer to the Fannie Mae Desk Top Underwriter system and came back as Approve/Eligible. Also the loan officer attached a bio to the pre-approval letter.
The Sellers liked the Buyers and felt comfortable that the transaction would close quickly and smoothly even with financing involved and even though three offers were cash offers. Of course, we could have lost and I would not be witting this blog – but the point is: Do the best Presentation possible and get the accepted offer !
