Writing a great offer letter that sellers will love can seem like a silly add-on, but you shouldn’t underestimate this tool! Now that Nashville homes for sale and the local real estate is in a ‘seller’s market’, any little thing you can do to add appeal to your offer is important. And we have a few great tips to improve your chances!
1. Don’t Discuss Your Demographics
You’ll actually violate fair housing laws if you discuss your demographical information, so be careful here! There’s no need to end up in legal hot water for a home offer. In general, discussing age, race, or sexual orientation explicitly could bias the homeowner, and now that federal and local governments are paying much more attention to every home transaction, it’s important to keep everything (even offer letters) as far above board as possible.
2. Include All Your Paperwork
Ensure that you can give all the proof possible to a seller to show that you’re a buyer who can actually close on the property. Pre-approvals with signatures, verifications of your downpayment, anything which can make you more attractive financially! This can be more important than the proposed price in many situations, because sellers want to be confident that the offer they accept will actually happen.
3. Consider Your Requests Carefully
If you’re requesting a lower purchase price or repairs, you need to be careful. Weigh your list of ‘must haves’ and ‘would likes’ against how many other offers the property is likely to get, and how soon after it was first listed that you’re submitting your offer. The general rule of thumb when buying a home in Nashville is to ask for more if the home has had a difficult time selling, and less if the home is placed competitively.
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