Prepare Your Offer Now

Desirable homes in Southern California tend to receive multiple offers during the time they remain listed. Demand constantly exceeds supply, and growth projections for the next few years in the Inland Empire show this will continue (and get a little worse).

This forces home buyers to compete for the available homes in this market. If you find a home you think is desirable, others have found it too, and will most likely submit offers to the seller to buy it. In a multiple offer situation, everything you can do to increase the quality and presentation of your offer reaps tremendous rewards.

Offers will generally be ranked on three major categories: Offer Price (and terms), Buyer credentials, and probability of closing Escrow on time (or at all).

The seller has hired an Agent to sell their home, and will usually avail themselves of that Agents experience in evaluating the quality of the offers they receive. They want to sell their home, but can't afford failed escrows and the time they involve (30 to 60 days on average). We frequently see high value offers rejected due to lack of Buyer credentials, and subsequent uncertainty about the probability of closing escrow.

That was a mouthful, what does this mean to me?

This means that every home seller out there is looking at both the amount of your offer, and your ability to deliver on what you offer. Price alone will not dictate acceptance, your financing status and ability to close will be carefully measured as well.

Clearly you can't prepare an offer on a specific home now, but having your credentials in order and ready to present puts you ahead of the game. Taking the time to prepare a statement (it will resemble a financial resume) of your financial credentials optimizes your ability to respond quickly when you find a home you like, and to do so in a manner that presents you VERY well to the seller. They will notice the difference between your offers and any others they receive.