Solid Financing? Who Says?
Assuming that one of the offers isn’t cash, for full price (or over), what can be a deciding factor for Sellers weighing multiple offers?
A Buyer who has rock-solid financing — and a loan officer who vouches for same.
So, an especially good strategy wooing such a Seller is to make the Buyer’s loan officer available to the Seller’s agent (called “the listing agent”), to verify the Buyer’s creditworthiness.
Even better?
To have the loan officer call the listing agent, and vouch for the Buyer’s financial strength.
A great lender will be available to do that, even on short notice and/or a weekend.
Other Factors
Of course, other evidence of solid financing includes a name (vs. “no name”) bank or mortgage broker; a healthy earnest money check and down payment; and a quick (but realistic) Written Statement deadline.
Oh! And a steady, veteran Buyer’s agent to marshal all of the above doesn’t hurt, either. 🙂
“Necessary But Not Sufficient”
Conspicuously absent from the foregoing list?
The Buyer’s Pre-Approval Letter.
While that’s a prerequisite for launching any offer (at least in Minnesota), their flimsy, non-binding terms provide Sellers little comfort.
See also, “Strong Pre-Approval Letter Requested With Offers”; “The Second Most Important Date in a Home Sale.“