Making a strong offer when you want to buy property is a must if you want to close those homerun deals. If you want to make a strong off then apply these three things:
Significant Earnest Money shows you are serious and ready to close the deal. PROTECT your earnest money! At some point, it becomes permanent and you do NOT get it back! How much should you offer? The amount of earnest money varies from deal to deal, but my rule of thumb is to offer what you can. The more you put down, the strong you appear.
What is significant? 1% is typically a good rule of thumb but read the situation, consider your offer, and contemplate how much you can make off the deal.
Proof of Funds shows you have the amount needed for the down payment. It’s quite simple. If you don’t have the down payment, the deal won’t move forward.
A Commitment Letter or MIP from a guaranteed lender will be generic but shows that you have spent the time consult with a lender, review your finances, and officially ask for loan approval.
More so suggest you write a personal letter to the vendor and make sure you be specific with a specific property.
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