How My Client Got Their Offer Accepted

My client called me letting me know they were in a multiple bid situation on a home that they really wanted. Their bid was $385,000 and the plan was to put 20% down. Their Realtor had told them a previous deal fell apart and the sellers were being overly cautious this time around.  

There were apparently two other offers that were competing for the same property. Since they didn’t have another home to sell, their offer was almost like cash, but there was still a mortgage contingency.

I asked how much of a deposit they were putting down, they told me $10,000. I asked would they be willing to make the deposit non-refundable and take the mortgage contingency out of the agreement, but leave the home inspection in and added a satisfactory appraisal contingency. They said absolutely.

The purchase agreement was revised and presented again, as I’m guessing the others were. This time the result was different, their offer was accepted.

Unless the possibility of financing is not an issue, this is not something that would make sense to most buyers. It was clear, the transaction that had fallen apart previously had something to do with financing, which made my clients offer best for the sellers.