How to Make an Offer Before the Open House
Home buyers often want to make an offer on a new listing before the scheduled Open House. This idea is with valid reason. In Beaufort SC’s fast-moving market, buyers have a right to worry that another buyer will fall in love with the home at the Open House, maybe more than one buyer, and there could be multiple offers.
Listing agents like to put a home on the market on Friday and promote a Sunday Open House. Uploading the MLS listing at midnight on Thursday allows all the photographs to download across numerous platforms, making the images available first thing Friday morning.
When a buyer opens her morning emails and sees a new listing, she calls her agent and asks to view the home right away. Especially now that it is a seller’s market, but a preemptive offer would need to be mighty attractive for a seller to accept that offer prior to waiting out the results from the Open House.
Not to mention it is difficult to cancel an Open House at the last minute when it has been advertised everywhere online.
If the seller does want to wait until after the Open House to accept any offers, there are still ways for the buyer to peak the seller’s attention. Note – a seller should also let the buyer’s agents know up front that they’ll most likely hold out for the Open House.
For the buyer who wants to submit an early proposal they need to act quickly and submit a solid offer. Buyers can add in a few other things as well:
- Create a sincere letter to the seller about your situation and why you want to buy their home.
- If the circumstances permit, give the seller extra time to move out, without charging rent.
- Offer to absorb some of the closing costs that a seller would normally pay.
- Submit a solid offer, backing it up with substantial documentation such as a preapproval letter and proof of funds.
Who do you think the seller will think about from Friday to the Open House? The seller might even be wondering if they should have jumped on your offer.
Good luck with your house hunting. We hope you found this article helpful. If you are looking to move to the Low Country, please contact the team of Audrey and Kip at Ballenger Realty. They’ll show you the way home…