It’s not unusual for a potential home buyer to consider placing an offer on a home prior to a scheduled open house. They may feel that the home they are interested in buying will be lost to another buyer if they wait for the open house.
For a home’s seller to accept an intending buyer’s offer prior to outcome of the open house results, such offer must be extremely attractive. Assuming the seller accepts the purchase offer, the real estate agent may still proceed with the open house to leave the field open to other buyers in case the deal falls through.
💭 Home Buyer Offer Considerations
You may believe that offering the list price is a good idea before the open house because it shows the seller that you are committed and serious about the purchase. Keep in mind that some sellers may be holding out for a higher offer and still wait for the open house.
Some buyers think that a cash offer will hold more weight. Again, this may not work if the seller considers it all a cash at closing anyway deal.
📌 Before Open House Offer Tips
You can also consider these helpful tips when creating your offer.
💡 Write a heartfelt letter about why you want to buy the home.
💡 Attach a copy of your home mortgage loan pre-approval letter.
💡 Offer to give the seller additional time to move from the home.
💡 Offer to pay some of the closing costs the seller would normally pay.
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🤝 Reasons for Accepting Offers
There are several good reasons that a seller may accept the offer you make before the open house. A seller may realize that a buyer who is ready with an offer is better than taking a chance on a second buyer that never shows.
Some sellers understand that waiting for more offers doesn’t mean they’ll be offered more money on the selling price. Their real estate agent may encourage them to seriously consider your offer.