How Can I Make My Offer More Competitive - Offer Seller Free Occupancy (Seller Rent Back)

How can I Make My Offer More Competitive? Offering the seller free occupancy through a rent back is a great option for home buyers who have a little flexibility as to when they need to be in the house. A home buyer who is renting a home before has a distinct advantage on offering this competitive advantage.

A buyer should always ask a seller what their preferred closing date is. An idea is to offer them to close a couple days before they intend to close on their next house and rent them the house back at $1 for a short period of time.

How does it help? Well it makes the process a little less stressful for a seller. By closing a couple days before it guarantees that everything will stick to their timeline and that their closing will be seamless.

If you are financing, the agreement with the bank does say that you will be living in the property within 60 days after closing. So this does even allow you as a buyer to give the buyers an even more extended period of time for their move.

There may be an end to your generosity when you eventually will have to make your first mortgage payment. You will want to talk to your mortgage banker or real estate agent as to when that first payment will be.

The Buyer Power Checklist breaks down an offers buying power into three different categories. A buyer's offer will either be in the 'Low', 'Average' or 'High' Buying Power category.

https://www.boston2.com/blog/how-can-i-make-my-offer-more-competitive-the-buying-power-checklist/