Ramblings of a Baltimore area Realtor: So, You Want to Get Your Contract Accepted on My Listing

So, You Want to Get Your Contract Accepted on My Listing

So, You Want to Get Your Contract Accepted on My Listing

I am not primarily a listing agent, I represent buyers as well as sellers.  It is everyone's hope and wish to receive multiple offers on their listings.  In the the current market place where there is more demand than there are homes for sale it's not unusual to receive more than one offer if the house shows well and is priced right.  

Sold by June Piper-Brandon 410-292-0100So, how do you get offer to stand out from the crowd?

I always like to see a cover sheet on an offer that is a summary of what is to follow.  If I'm not at my computer (and I'm not always) a summary sheet helps me assess the situation and what is to follow.  

A good strong pre-approval letter from a local, reputable lender.  I want to know that the loan officer has examined pay stubs, verified assets, pulled your credit, and put the scenario through desk top  underwriting at the very least.  I recently got a letter from a lender that just simply stated that the buyer was prequalified with no supporting verbiage.  After 3 phone calls I was finally able to talk to the loan officer and determine that he had in fact done all those things just didn't think it was important to i) return phone calls and ii) tell me up front that he had done more than talk to the buyer.  

Always include a copy of the earnest money deposit check and the amount should be in line with the purchase price of the house.  I don't want to see $1,000 earnest money deposit for a $500,000 house. 

A good clean well written offer that clearly states the sellers name, the buyers name, the purchase price of the home, settlement date, type of financing and if the buyer needs or wants closing cost assistance and be sure the selling agents information, phone number, email address and brokerage information is filled out. And, don't miss any initials or signatures.  After you've written the offer and while you are sitting with the client go back over the contract to be sure you haven't missed anything.  Before I sit down with my client I go through and highlight where the buyer needs to initial and sign with a bright colored highlighter so we don't miss anything while we are chatting and signing.  Before you write your offer call my office and ask for the disclosures and include those in the contract.  

And, a letter from your buyers expressing how much they want to buy this home and live in it and so on quite often goes a long way with sellers if there is more than one offer.  Remember the listing agent is obligated to share everything they know with their client.  It's not always about the money, sometimes it's about the terms too.

Good luck!!

 


If you are thinking of buying or selling an home in  Maryland give us a call at 410-292-0100 or start your search here and we'll talk about the market conditions and what your home could possibly be worth in today's market place if you are thinking of selling. If you are considering buying a home, there is no better time than now to buy. The tax savings and wealth building alone is worth the plunge into todays market.  Remax New Beginnings and I are connected with some of the brightest and best real estate agents in the world and can assist with your move here in Maryland or anywhere in the United States or abroad.  Ask me how.

June Piper-Brandon ~ Associate Broker ~ CDPE, CIAS, ePro, MRP

The Traczyk Team

Remax New Beginnings

City Living Expert

 

 

 

 

 

 

June Piper Brandon - Agent with Century 21 New Millennium

June Piper Brandon - Agent with Century 21 New Millennium

Comment balloon 7 commentsJune Piper-Brandon • September 05 2015 05:25AM

Comments

Good description of a perfect contract. So many agents cut corners.

Posted by Wayne and Jean Marie Zuhl, The Last Names You'll Ever Need in Real Estate (Samsel & Associates) over 3 years ago

Wayne and Jean Marie Zuhl you are so right, some agents haven't had the training and don't know, others have and have become complacent but in this tricky market it's "back to basics" and representing our clients the best way we can.  

Posted by June Piper-Brandon, Piecing Dreams One Home at a Time (The Traczyk Team at Remax New Beginnings ) over 3 years ago

June, good advice for buyers' agents - although I've never give much weight to the "pick me" letters. 

Posted by Patricia Kennedy, Home in the Capital (RLAH Real Estate) over 3 years ago

Patricia Kennedy sometimes there is information in the "pick me" letter that helps the seller make a decision like they are flexible with their date or willing to give a rent back if needed that helps the seller know which buyer is willing to budge on their terms. 

Posted by June Piper-Brandon, Piecing Dreams One Home at a Time (The Traczyk Team at Remax New Beginnings ) over 3 years ago

Good morning June. I liked this and agree with your process and your thinking.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) over 3 years ago

This is very good reading for prospective home buyers and their agents.

Have a very special holiday weekend.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) over 3 years ago

June

This is all important stuff, although we don't see EMD check copies all that much. I also want to ssee their proof of funds, which is essential in the case of cash offers

Hope you have been enjoying the weekend!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) over 3 years ago

This blog does not allow anonymous comments