Welcome!

By registering with us, you'll be able to discuss, share and private message with other members of our community.

SignUp Now!

How to go about getting an offer accepted?

ccameron

0
Registered
Joined
Sep 27, 2007
Messages
47
There is an estate sale on a home that I believe to be priced below market value. It has a large property with a solid brick house on it. From my understanding, there are 3 offers being presented on Friday to the Lawyer for his consideration. The family are fueding and have put the decision in the lawyers hands. I would very much like to buy this property and would like some tips on how to get my offer accepted over the others. Thanks Chris
style_emoticons
ps I plan to use a cover letter and also a double offer as suggested in Don`s book.
 

RedlineBrett

0
Registered
Joined
Oct 24, 2007
Messages
2,289
If you are a buyer facing multiple offers then the simplest way to go about is as follows:

1. Put the highest offer price on that you are willing to pay
2. Put the least amount of conditions on that you are willing to accept
3. Write the best cover letter you can given what you know about the situation... as in... it`s an estate sale. Maybe your accountant can help you convey to the sellers how accepting your offer is best for their tax implications. Or maybe you are willing to close quickly to put it behind them, or you will accomodate their needs for moving stuff out or whatever. Let them know you are an easy person to deal with.

Good luck!

QUOTE (ccameron @ Jun 4 2008, 02:53 AM) There is an estate sale on a home that I believe to be priced below market value. It has a large property with a solid brick house on it. From my understanding, there are 3 offers being presented on Friday to the Lawyer for his consideration. The family are fueding and have put the decision in the lawyers hands. I would very much like to buy this property and would like some tips on how to get my offer accepted over the others. Thanks Chris
style_emoticons
ps I plan to use a cover letter and also a double offer as suggested in Don`s book.
 

PaulPoulsen

0
Registered
Joined
Sep 23, 2007
Messages
191
Brett`s got some great advice.

Something that`s worked for us on occasion is to offer to strike a second separate deal on the contents of the home. We bought a home from an elderly woman that was moving into a senior`s lodge and she couldn`t take all her belongings with her. My wife went to the open house with the goal of meeting the vendor in person and struck up a friendly conversation with her and talked about pretty much everything but the house. During the course of the chat, the vendor mentioned that she was very concerned about dealing with her furniture. When we presented our offer to the realtor, we included a cover letter stating that if our offer was accepted, we`d be happy to buy the the furniture from her when she was ready to move.

I believe there were ten or 12 other offers presented that day. Our offer was only marginally higher than the others and we had conditions while the majority of the other offers didn`t. But my wife`s idea to buy the furniture put the vendor`s mind as ease and against the advice of her realtor, she took our offer instead of one of the unconditional offers.

Just before our possession date, the vendor`s daughter called us to work out a deal for the furnishings. We told her to come up with a number of what she like to get for everything and we`d stop by the house to discuss it later that day. When we arrived, they walked us through the house and pointed out everything that they wanted to leave behind. There was a single bed, a double bed, a queen bed and a pull-out bed. They also had nightstands and end tables they wanted to leave along with a dining room table with chairs and a kitchen table with chairs. I think there was an old TV and TV stand and some coffee tables thrown in as well. After the tour, the daughter asked us if $1,000 was too much. My wife and I looked at each other for an instant and then told her that there was no way they could sell us all that furniture for only $1,000. It took more negotiation that buying the house but in the end we absolutely insisted they take $1,500.

In the end, the vendor and her daughter were over the moon that they got an extra $500 and we were tickled that we got our offer accepted when there were so many other offers presented. Now, a year later, some of that furniture has found its way into my sister-in-law`s condo and the rest is stored in the basement of the house. It was win/win all the way around.

ANYWAY, the point of my LOOOOOONG story is this:
Try to imagine some of the pains involved in dealing with an estate sale. You could mention that the house doesn`t need to be cleaned before you take possession or that they family can just take what they want out of the home and leave the rest for you to deal with.
 
Top Bottom