Henri Gourd 914-954-3897 henrigourd@bhhsne.com Put yourself in the SELLER'S POSITION When writing an offer to purchase your next home, I counsel my buyer clients to consider additional factors beyond the purchase price that may be important to the seller. The size of the earnest money deposit signals how serious the buyer is as that money is ultimately at risk. There is no minimum amount required but in the eyes of the seller, more is better. In cases where there are contingencies including a successful home inspection, the buyer can usually back out of the transaction without penalty. Appraisals are required when getting a mortgage but if the buyer is prepared to make up a potential shortfall if the appraisal comes in below the offer price, he may be able to save a deal that otherwise would fall apart. If he is paying cash for the home, waiving the appraisal altogether it is even more attractive. It is said that cash is king. An all-cash offer eliminates the mortgage contingency altogether. If you can front the money for an all-cash the sale, you may be able to take out a loan later to pay yourself back. If you need a mortgage to complete the sale, be sure to have a pre-approval in hand when you make the offer. If you have done all your homework in applying for the loan, you will be able to close faster which may be attractive to the seller. Timing is an often-overlooked element in an offer. Some sellers may be motivated to close quickly and others may still be looking for a place to move and require flexibility or a delayed closing date. Your Realtor should know if this is an important consideration. Think outside the box. In a recent competitive sale, my client who is a recognized fine artist, offered the seller a painting of her house or a commission-free painting of her choice. This personal touch went a long way in closing the sale. BERKSHIRE HATHAWAY Home Services New England Properties Selling it all, from cottages to castles! Henri Gourd 914-954-3897 henrigourd@bhhsne.com Put yourself in the SELLER'S POSITION When writing an offer to purchase your next home , I counsel my buyer clients to consider additional factors beyond the purchase price that may be important to the seller . The size of the earnest money deposit signals how serious the buyer is as that money is ultimately at risk . There is no minimum amount required but in the eyes of the seller , more is better . In cases where there are contingencies including a successful home inspection , the buyer can usually back out of the transaction without penalty . Appraisals are required when getting a mortgage but if the buyer is prepared to make up a potential shortfall if the appraisal comes in below the offer price , he may be able to save a deal that otherwise would fall apart . If he is paying cash for the home , waiving the appraisal altogether it is even more attractive . It is said that cash is king . An all - cash offer eliminates the mortgage contingency altogether . If you can front the money for an all - cash the sale , you may be able to take out a loan later to pay yourself back . If you need a mortgage to complete the sale , be sure to have a pre - approval in hand when you make the offer . If you have done all your homework in applying for the loan , you will be able to close faster which may be attractive to the seller . Timing is an often - overlooked element in an offer . Some sellers may be motivated to close quickly and others may still be looking for a place to move and require flexibility or a delayed closing date . Your Realtor should know if this is an important consideration . Think outside the box . In a recent competitive sale , my client who is a recognized fine artist , offered the seller a painting of her house or a commission - free painting of her choice . This personal touch went a long way in closing the sale . BERKSHIRE HATHAWAY Home Services New England Properties Selling it all , from cottages to castles !