There are several ways you can increase the attractiveness of your offer.
The key to strong negotiations is market knowledge. When you work with Kara Eisenga, you have a professional who will back up your offer price with sound market statistics. Are there times when it doesn't matter what the market dictates is a fair price? Sure, time and again Kara has seen a listing sit idle for weeks and then all of a sudden there is a flurry of activity and multiple offers. In situations like that, the buyer will have to determine what the home is worth to them and make their best offer.
If a buyer will require financing to complete their home purchase, it is important that they speak with a lender before making an offer. There are times when a property receives multiple offers (undoubtedly over the weekend). A solid offer that requires financing but provides no pre-approval letter can easily be beat out by another buyer who came to the table with pre-approval for financing. A pre-approval letter equates to less uncertainty for the seller. The purpose of the pre-approval letter is not to limit you in your search or share with the seller how much you can borrow, the purpose is to give you leverage in negotiations and assure the seller that you are a solid buyer. If needed, Kara can assist you in obtaining this letter from your lender.
For those who will purchase property without the need for financing, a pre-qualification letter can still be beneficial in making your offer more attractive and in some situations, may be required by the seller of a high-end home.
Most importantly, do not be alarmed when you are asked for a pre-approval or pre-qualification letter. The need for it is not to know your financial status, it is purely for your benefit in negotiations and it is common practice in this market.
There is no typical dollar amount that should be given for a deposit, (also known as earnest money or down payment). Different parts of the world seem to look at these very differently. Most importantly, consider this: When you provide an offer with a $1000 deposit, does that tell the seller you are serious? Your deposit should be in line with the price of the property and your sincerity. A deposit in an important piece of making your offer more attractive than the next person's.