Home hunting can be great fun, but the tracking down of your dream home can also be an exhausting project. So when you finally find the perfect house, you need to make sure that it is not snatched away by a by a more competitive offer. Here are some tips to ensure your offer gets accepted.

Get pre-approved for the purchase:
This takes very little time and is of great value. At this time, identify the price range for which you qualify and which fits your levels of affordability. It gives you the added advantage of being able to resist the temptation to buy above your means.

Submit a strong competitive offer:
Submit the offer as if there will be multiple offers. This will work if you are really passionate about the home. If you know there are other homes on the market that you like just as much, you can offer a little less.

Include substantial deposit money:
Acceptance of an offer is sometimes determined by the amount of the deposit. A larger amount may signify a bigger commitment to the seller. Always ensure that the deposit is lodged in the proper facility and that the agency you are dealing with is beyond repute.

Minimise or eliminate conditions:
The fewer contingencies, the stronger the offer. Few sellers are interested in conditional sales, especially when another home has to be sold. However, do not take the risk of submitting an unconditional offer when you have not yet sold your existing home. You could end up selling your house at a discount or paying two bonds.

Make a buyer profile available:
For example, spell out when you would like to take occupation. Let them know if you are flexible and tell them why you are interested in that particular home. If there are things you do not like about the home, keep the comments to yourself. If you are competing with another buyer, you may get penalised for your negative remarks. People have strong emotional attachments to their homes and they are more comfortable selling to people they like.

Here is a list of items that you will need for the negotiations:

  • A copy of your Purchase & Sale Agreement;
  • your present mortgage information;
  • two-year history of employment and verification of all income sources if you are applying for a new bond;
  • if self-employed, copies of past two years Income Tax Returns and bank statements;
  • information about your checking, savings and credit card accounts;
  • name, account number and outstanding balance of each of your debts;
  • application deposits; and
  • information about any assets