It is NOT always dollars and cents that prompt a seller to sign an agreement of sale…here are a few tips to sweeten your Philly Condo offer:
- Shorten your settlement date-especially if the home is vacant.
- Get a pre-approval from the mortgage company that the LISTING agent uses most. This will allow the listing agent, who will be presenting your offer to the seller, to be comfortable with your financing arrangements.
- Shorten your home inspection period to 7 days instead of 15 days.
- Put more money down (to be held in escrow) – a full 10%.
- Add an “AS-IS” clause (which will still allow you to inspect and terminate the deal within the time frame permitted, if necessary).
- Write a really nice note about how much you love the seller’s home and why you are buying their home. If it evokes a special emotion out of you, let the seller know. Every seller wants their home to be “loved”….let them know you love their home!
- If a property is vacant, but still has unwanted clutter and dirt, tell the seller you will buy the home as it sits today.
- If the seller is buying another home, and doing so locally, consider allowing his or her title company to do your title work. Most title rates are standard, and you (generally speaking) will not incur more costs by having your title work done by a company you or your realtor chooses.
- If you are flexible in the dates you can settle, give the seller the option to pick the settlement date. You can write a contract that gives the seller the right to choose your settlement date within a specific period of time, like “ from 30 to 90 days from execution of the contract”..seller to decide.
Many things in a real estate transaction are emotional. Sweeten that emotional pot and you might find you’ll save a few dollars. It happens more often than you think! Shoot me an email at Mark@CenterCity.com or call 215.521.1523 when you are ready to start shopping for your next condo here in Philadelphia, and we’ll help you make a sweet offer.
Mark Wade
BHHS Fox & Roach Realtors®
530 Walnut St. #480 | Philadelphia, PA 19106
www.CenterCityCondos.com