Poor Mouthing the Offer Can Make You Lose the Deal!

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Poor Mouthing your offer can make you lose the home!

In today’s market, where so many loans fail to close for many reasons, if a Seller, Bank or Listing Realtor is trying to choose the offer that has the best chance of actually closing, which offer do you think they would choose?

Example: $500,000 List Price

Offers:

1. $480,000 offer with a pre qualification letter for $480,000 (i.e. Poor Mouthing the Offer) and a $1000.00 just written in the deposit line on the offer.

1. $490,000 offer w/seller to credit $12k towards buyer’s closing costs with a pre qualification letter for $750,000 with a copy of a deposit check of $15,000.

Sellers, Banks and Listing Realtors would contract with offer #2, where the buyer can clearly afford the purchase, backing it up with a substantial Good Faith Deposit which shows they’re serious buyers. The Seller may net a little less on offer #2…but it’s far more likely to close, and that’s all that matters now days!

The strategy of what’s called “Poor Mouthing the Offer,” where buyers try to act as if they can barely afford their offer in effort to get a lower price is a Flawed Strategy for this market! This is why many buyers lose bid after bid with their offer not even being considered and cut from the running early on.

Sellers, Banks and Listing Realtors already assume that pre qualification letters are stretched to the max anyway. Therefore, they look for the Sure Thing, the most solid deal that has the best chance of closing…Period! To take a chance on contracting with a buyer in this market that can barely afford the home to begin with is too much of a risk.