Get pre-approved with a CREDIBLE lender
Choosing the wrong lender can actually hurt your chances in competitive situations.
Beware of “gimmick” or “As seen on TV” mortgage offers – they can scare sellers!
Waive the appraisal or cover a shortage
When an appraisal comes back lower than the contract price, the gap is called a “shortage.” If you really want the house, you as the buyer, have to come up with the difference. Offering to cover a shortage on the appraisal gives have a big advantage over any other bidders. The only stronger offer is to be an “all cash” buyer.
Be flexible about the time for closing and possession
This is extremely helpful in situations when the seller is still occupying the property, and may have timing issues. Being “nice people” can really impress sellers.
Know what you want and get a grip on what it’s really worth. Look at the sales prices of comparable homes and local supply.
The motivation of the seller is also a major factor. If you know what’s important to the sellers and accommodate them, it makes it hard for them to turn down your offer.