Let's Get Closer...To the Closing
Nothing horribly exciting today except to say the owners were amenable to our requests resulting from the home inspection, they wanted to know if we wanted any of the remaining items ( I'm saving the exact contents as a surprise) and would we like to move the closing from May 28th to the 12th?
WELL HECK YES WE WOULD!
This might be a good time to talk about a couple of the factors we think helped get our offer accepted:
1. Cash is King- we've been busy little savers over the years and have amassed a pile of cash solely for purchasing a home. With a cash offer you remove the biggest pain in the home buying process- the BANK. You remove an appraiser that may think you're paying too much for your home (not to protect you but to protect the BANK). You negate the need for super-expensive PMI insurance that protects the BANK. You forgo all of the fees associated with financing, savings thousands of dollars...not to mention the money you're not spending on interest.
We made it part of our offer that we could close as soon as 14 days after an accepted offer or as late as 60 to best suit their needs. It gives them a sense of control (in addition to being nice if you can swing it) especially if you're dealing with an estate situation. They also know that you've removed the BANK from the deal and there's a better chance of completing the sale. We've all seen deals fall through because of "financing".
2. Keep it clean- We kept as many provisions (snags we call them) out of the offer as we could. Many of the items that are asked to be paid for buy the buyer are, honestly, small things. If you are in a competitive housing market and there are two equal offers, there's a good chance the one that doesn't ask for a home warranty (buy it yourself) or to pay a share of the title insurance (again, pay it yourself) or any of a number of little "nickel and dime" items we've seen over the years is the one that will get accepted.
I would rather pay an extra $1,000 more to GET the house than make an offer where I asked for $1,000 worth of stuff and LOSE the house. Now we're all big boys and girls here; you can do what you think works best for your situation. I'm just letting you know what our thought process was (one that worked).
3. Round up! If the asking price is $349,900 just round up to $350,000. It is essentially the same price, but sounds like so much more. It only costs you $100 but it might be the difference between getting the house and not. ~Mr.
Next stage: Passing the Time Until Closing!
WELL HECK YES WE WOULD!
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| Could this magnificent player piano be in our future? Well, it would make a great bar! |
This might be a good time to talk about a couple of the factors we think helped get our offer accepted:
1. Cash is King- we've been busy little savers over the years and have amassed a pile of cash solely for purchasing a home. With a cash offer you remove the biggest pain in the home buying process- the BANK. You remove an appraiser that may think you're paying too much for your home (not to protect you but to protect the BANK). You negate the need for super-expensive PMI insurance that protects the BANK. You forgo all of the fees associated with financing, savings thousands of dollars...not to mention the money you're not spending on interest.
 |
| Cash is King, no matter dollars or Afghanis. |
We made it part of our offer that we could close as soon as 14 days after an accepted offer or as late as 60 to best suit their needs. It gives them a sense of control (in addition to being nice if you can swing it) especially if you're dealing with an estate situation. They also know that you've removed the BANK from the deal and there's a better chance of completing the sale. We've all seen deals fall through because of "financing".
2. Keep it clean- We kept as many provisions (snags we call them) out of the offer as we could. Many of the items that are asked to be paid for buy the buyer are, honestly, small things. If you are in a competitive housing market and there are two equal offers, there's a good chance the one that doesn't ask for a home warranty (buy it yourself) or to pay a share of the title insurance (again, pay it yourself) or any of a number of little "nickel and dime" items we've seen over the years is the one that will get accepted.
I would rather pay an extra $1,000 more to GET the house than make an offer where I asked for $1,000 worth of stuff and LOSE the house. Now we're all big boys and girls here; you can do what you think works best for your situation. I'm just letting you know what our thought process was (one that worked).
3. Round up! If the asking price is $349,900 just round up to $350,000. It is essentially the same price, but sounds like so much more. It only costs you $100 but it might be the difference between getting the house and not. ~Mr.
Next stage: Passing the Time Until Closing!
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