BUYING A HOME: STEP-BY-STEP

In many parts of the country, and in most price ranges, the best
properties are suddenly piling up offers from multiple bidders who
know a good thing when they see one. But sometimes the highest
offer isn’t the one that’s accepted. Here, courtesy of dozens of
real estate professionals across the country, is a cornucopia of
creative tactics that could help you win the day when you can’t go
any higher on price.
No strings attached: Make your offer as clean as possible
Remoting every contingency you can live without. Line up your
financing in advance so the sale won’t be dependent on securing
a mortgage. Conditioning the deal on the sale of your current
house is the kiss of death.
If you feel confident enough, you can even waive the appraisal
contingency. But realize that without that protection, if the
valuation comes in low, you’ll have to make up the difference
between the agreed-upon selling price and the appraised value.
Agents have differing opinions on waiving the inspection clause.
Some think it’s OK to go commando, but others say
it is too dangerous.
If you want an inspection, line up your inspector in advance and
offer to get it done fast say, in five days instead of the usual
10. That way, says Jonathan Osman of Keller Williams Realty in
Charlotte, N.C., if there is a problem that kills your deal, it will be
discovered soon enough that the seller can accept another offer.
Also, be sure all the required documents, filled out nicely with
no erasures, are submitted with your initial offer. “No mistakes
or weird language,” advises Steve Crossland of Crossland Real
Estate in Austin, Texas. “Make your offer acceptable and ready
to sign.” As-is condition: Offer to take the place as is. You can
still have it inspected and cancel the deal if the exam uncovers
something you find unacceptable. But once the inspection period
expires, with an as-is clause, the place is yours.
Speedy closing: Some sellers want out as soon as humanly
possible, so offer to close quickly. One winning deal offered to
settle within 24 hours. Of course, that wasn’t possible; it takes
several days to prepare the closing papers. But the offer to settle
the next day told the seller the buyer was ready to go.

A quick close “is worth money and peace of mind” to
many sellers, says Linda Walters of Sage Realty in Wayne,
Pa. Adds Ed Corbett of Keller Williams Realty in Atlanta:
“Lengthy contract periods tend to make sellers nervous since
their period of risk is longer.”
Going long: Some sellers might have a much longer time
horizon. So instead of a quick deal, offer to hold off the
closing for 90 days instead of the usual 30 or 45. “If you can
afford to be flexible on closing dates, that can be a great
asset,” advises Debbie Battista of Domus Realtors
in North Haven, Conn.
The personal touch: Write a heartfelt letter telling the seller
who you are, why you love the property and how you will
cherish it as your own. Write it by hand, and include a photo
of your family. Corny? You bet, but it works. “Sellers want to
know that the buyers will love
the home as much as they have, and that their efforts
to maintain it are appreciated,” says Susan Neal of Century
21 Noel David Realty in Fair Oaks, Calif. “I’ve seen sellers
turn down a higher offer to leave their homes in good
hands.”
Face to face: Some agents want the buyer and seller to
meet, to get to know each other. At the very least, your
agent should present your offer to the buyer directly rather
than just handing it over to the seller’s agent.
“It’s my job to make the seller fall in love with my buyer,” says
Diane Hughes of the Higgins Group Realtors in Bedford,
Mass. “It’s a people business,” agrees Dorene Slavitz of the
Real Estate Group in Culver City, Calif. “
If the owners like your client, that can have
a positive effect upon their view of your offer.”
Timing is everything: Sometimes the earliest offer wins the
day, especially with anxious sellers who want out quickly with
no muss, no fuss. Kevin Kieffer, a Keller Williams agent in
Danville, Calif., likes to submit his
offers midweek to beat the competition that shows
up on the weekend.