You finally found that perfect home. You have spent months searching the internet and your Realtor has shown you so many homes that you can’t remember one from another.
You knew the minute you walked in the front door that this is the one. The floor plan is perfect and the kitchen is exactly what you want. Stainless steel appliances, maple cabinets and your favorite color of granite counter tops. You want to make an offer so your Realtor calls the seller’s agent to find out if this home is still available. Oh No, there are 4 other offers but the seller has not accepted anything yet. What should you do? The asking price is really low, even for a bank foreclosure. None of the other homes that you looked at in this price range even come close. Maybe that’s why there are 4 offers. Here is a list of things that I have learned over the years that have gotten many offers accepted.
• Don’t get greedy! This is the number one deal killer. The offer should be a win for the seller as well as the buyer.
• Bank foreclosed homes are usually listed at close to the bank’s bottom line. Don’t offer a low ball price. If you do not think the home is worth the asking price then move on and look for something else.
• Don’t ask the seller to make repairs if the home is being sold “As Is”. You will have a due-diligence period if your offer is accepted to check for costs to repair.
• Put your best foot forward. If your credit is great and you are putting down 50% your offer may carry more weight than one with a higher offering price.
• Agree to use the seller’s Title Company. This may not seem important but it is.
• Present a full approval letter with your offer. Use a local lender if possible.
• Do not ask for a long escrow period. The sooner you can close the better.

I hope these tips will help. The object of all this is to get the home, not find out what the seller is not willing to take. Your offer needs to be realistic. The banks are already taking a big loss on these foreclosures. Time is running out. This is your window of opportunity.