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Are you tired of the emotional roller coaster of house hunting, finding your dream home, only to have your offer rejected?


Demand these 5 things from your mortgage consultant to make your offer stand out from the competition:


1.  Offer a 7-day Loan and Appraisal Contingency Period

Getting your loan approved and the appraisal completed and reviewed in 7 days assures the seller that you can move through the loan process quickly. Also, it means that if there is an issue, after your offer is accepted, it will be addressed quickly as well as early in the process, instead of the standard 21 days in. Saving everyone involved time and money.

2.  Offer a 14-day closingstairs

Showing the seller that you can close in just 15 days provides further assurance that, if accepted, financing won’t be an issue with your offer. More often than not, in a real estate transaction, all parties involved would prefer a quick and efficient close.

3.  Guarantee your closing date with a per diem

Guarantee your closing date by requiring your lender to pay a penalty for everyday that you close after the proposed closing date. Adding a guaranteed quick close will add a ton of weight and appeal to your offer.

4.  Have your file underwritten prior to making offers

Require that your lender underwrite your file with a “to be determined” property. This ensures that an underwriter reviews and approves your income, credit and assets prior to you starting to make offers. It will give you and the seller further peace of mind that your loan will close. Also, knowing your limits gives you the ability to respond to counter offers today, quickly, and decisively.

5.  Agree to the cross qualification by the seller’s preferred lender

It is very common for a seller to request that buyers are cross-qualified by the seller’s preferred lender before accepting an offer. Assurance, from a trusted source, that they can be confident a buyer won’t have any financing issues, will put the Seller’s mind at ease. Make sure to provide permission to your lender to share your documentation with the seller’s lender, if requested by the seller.


Call now at (888) 273-8734 or Schedule a Consultation to discuss how we can help.


* This post was originally published Jun 14, 2018.  It was updated and reposted Sep 8, 2022.