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Updated almost 5 years ago,

User Stats

12
Posts
8
Votes
Drew Zervos
  • Miami, FL
8
Votes |
12
Posts

Tips for a Strong Offer Letter That's Below Asking Price

Drew Zervos
  • Miami, FL
Posted

Hello!

I am looking to submit an offer today on a unit for roughly 15% below asking price.  The unit has been on the market for the asking price for the past 3 months.  I already did my comps and multiple units within the area sold recently (within past 6 months) for my offer price.  However, I would still like to make my offer appear stronger since I am offering less than asking.  I am going to attach a personal letter to the offer, along with the comps I found.  I was thinking of offering a higher earnest money (~3%), no appraisal contingency and maybe even a shorter financing contingency as we are already pre-approved for well over the asking the price and the lender advised they could make it happen.  Any other thoughts on how to make it stronger while also protecting myself?


Thanks!

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