• Get o ffi cial pre-approval for a mortgage in the amount of the asking price; this is one way to make your o ff er more attractive than others. It’s also helpful to let the seller know about all yo ur fin ancial options, such as mortgage conditions and funding programs; some will be more attractive to the seller and therefore in fl uence his/her decision. Having yo ur fin ances ready and lined up is a sure fir e way to gain the upper hand over other buyers and o ff ers. • Bid close to the listing price when there are potential multiple o ff ers on the table . Th is is another way to gain an advantage over other buyers. In a seller’s market, there isn’t much sense in o ff ering sign ifi cantly less than the asking price; it won’t do you any favors, and could put you out of the running. Further, bidding close to the listing price will ultimately save you time on the ongoing counter o ff er process. • Review your list of contingencie s. Th is is helpful in ensuring your o ff er is the best one . Th e fewer clauses you have, the more attractive your o ff er will be to the seller. Together with your agent, think about what you can a ff ord to give up (concede). Note: Keep “home inspection” on your contingency list. If you don’t, the seller won’t be liable for any uncovered issues with the condition of the property, and you’ll be the one paying for any necessary repairs. It’s not worth the risk. • Make a large, “good faith” deposit and down payment to demonstrate your intentions and commitment . Th is will show the seller that you’re serious and could tilt the balance in your favor, with the seller accepting your proposal. 118
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