DETAILED GUIDE FOR GETTING YOUR OFFER ACCEPTED

Find a Local Lender Who Knows Your Market

Work with a local lender who understands the specific market you're targeting. They will be familiar with common timelines, contingencies, and appraisal trends. Local lenders are also more likely to have a good reputation with agents which translates to better seller confidence, which proves invaluable during the offer process. Make sure you have one dedicated point of contact who stays current on your financing status and the homes you're pursuing.

Prioritize Strong Communication

Your agent and lender should maintain open communication throughout your search. When all parties know which homes you're targeting and what offer strategies you're employing, you can submit stronger offers while protecting your earnest money. The best lenders move quickly when you find the right house, ensuring you don't miss out in a fast-moving market.

Look Beyond Basic Loan Services

Ask what your lender does to help you stand out beyond providing rate quotes. A proactive lender should call the listing agent when you submit offers to answer questions and emphasize your financial strength. Additionally, your preapproval letter should clearly outline what financing steps have been completed, giving sellers confidence that you'll fulfill your contractual obligations.

Get Pre-Underwritten for Maximum Advantage

The most important tip when looking for financing that will help get your offer accepted is to get pre-underwritten. This means your lender submits your file to underwriters before you have an accepted offer, allowing you to close much faster. Being pre-underwritten is as close to cash as a financed offer can get, helping you compete effectively against cash buyers and giving you a significant edge in multiple-offer scenarios.

Start with Personal Referrals

Begin by talking to friends, family, and colleagues who have recently bought or sold homes in your area. Most top-performing agents work largely on a referral basis, so personal recommendations offer valuable insight into an agent's communication style, negotiation skills, and overall effectiveness.

Choose an Agent with Strong Market Presence

Look for an agent at a brokerage with significant market share in your target neighborhood. Agents at well-established firms regularly share information about day-to-day market changes, giving you access to real-time intelligence on pricing trends, buyer demand, and inventory shifts that others might not be aware of until it is too late.

Find a Proactive Real Estate Agent

Ask potential agents how they research properties beyond just browsing the MLS. A good agent stays in constant contact with listing agents to gather updates on showing activity, potential competing offers, and seller expectations. This proactive approach uncovers critical information that never appears online and helps you submit stronger offers.

Ensure Comprehensive Expertise

Finally, your agent should demonstrate in-depth knowledge of the entire transaction process, from financing and pre-approval to inspections and closing timelines. This comprehensive expertise ensures a smoother experience with fewer surprises along the way.

Offer a Substantial Amount of Earnest Money

Earnest money shows sellers you're serious about the purchase. Aim to put down at least 3% of the purchase price, remembering that this amount applies toward your down payment at closing. If you really like a house and know it's competitive, consider offering even more. Depending on your contingencies, you can typically recover this money if something goes wrong, and it's always protected if the seller defaults. As a buyer, you cannot legally lose more than 5% of the purchase price if you default on the terms of the contract.

Consider Non-Refundable Deposits for Maximum Impact

For an aggressive approach that always helps you stand out and get your offer accepted is to convert all or part of your earnest money into a "non-refundable deposit." This instructs escrow to transfer the money directly to the seller before closing, making it theirs immediately. While the seller can't simply walk away with your money without consequences, you'd have to pursue legal action if they did.

Buyers use this strategy because in aggressive offers where contingencies are already waived, there are few scenarios to recover earnest money anyway. You're accelerating the payment and enticing the seller with a large check delivered to them within days. Sellers genuinely appreciate this approach and it will get your offer noticed in multiple-offer scenarios, but it carries significant risk and isn't recommended for everyone.

What the Financing Contingency Protects

The financing contingency protects you if your loan isn't approved through no fault of your own, such as unexpected job loss, lender errors, or other worst-case scenarios. It also safeguards you against low appraisals. If an independent appraiser determines the house isn't worth your offer price, you're not obligated to buy it and can back out while recovering your earnest money, or you can renegotiate the price.

Waiving Financing in Competitive Markets

In highly competitive markets, many buyers waive their financing contingency to strengthen their offers. However, this removes your previous safeguards and puts you at risk if the appraisal comes in low or your loan isn't approved. For example, if the house appraises for $25,000 less than your offer, you'll need to reconfigure your loan or bring in additional funds to cover the difference.

This is an extremely risky tactic that should only be considered if you're fully underwritten and have had thorough conversations with your lender and agent about the pros and cons. Never do anything that will keep you up at night but this tip is a sure way to help your offer get accepted.

Offer Appraisal Gap Coverage as an Alternative

If you're not comfortable waiving financing entirely, offer to cover a specific amount in case of a low appraisal. For instance, you could commit to paying an additional $15,000 if the appraisal comes in low. Using the previous example, if the house appraises $25,000 below your offer, you'd cover $15,000 and then negotiate the remaining $10,000 difference with the seller. They may reduce the price, or you might split the difference. If you can't agree, you can exit the contract and recover your earnest money.

Determine Your Maximum Escalation Cap

In competitive scenarios, it's generally assumed you'll need to escalate above the list price. When determining your offer amount, ask yourself: if someone paid "X" amount for this home, would you feel upset you didn't get it at that price? If the answer is yes, the price is supported by comparable homes, and you can afford it, increase your escalation cap. If they paid "Y" and you're fine not getting it at that price, you know your limit.

Choose Meaningful Escalation Increments

Deciding on escalation increments is also important. While you can go up by as little as $1, you won't be taken seriously. Your increments should be significant enough to convince the seller to accept your offer even if competing offers have more appealing terms. In the Seattle area, we generally want to see a minimum of $3,000 - $5000 increments. Though higher-priced homes usually warrant larger increments at or above $10,000.

Avoid "Highest and Best" Requests

Be aware that some sellers request "highest and best offers" instead of escalation clauses. This approach should be avoided. One major advantage of escalation clauses is that you're entitled to see the next highest offer once yours is accepted, ensuring you're paying fair market value since other buyers were willing to pay similarly. "Highest and best" requests can pressure buyers to arbitrarily overpay beyond market value. Include your escalation clause anyway—if your offer is the best, they'll still accept it.

Customize Escalation Terms

Finally, you can include terms that define what constitutes a "competing offer." For example, you can specify that offers with 60-day closing periods won't trigger your escalation, since that's a significant difference in terms. Additionally, and most impactful, you can offer to pay more if the competing offer is all cash, giving the seller extra incentive to choose your financed offer.

What a Title Report Reveals

A title report is a detailed document that reveals the legal ownership history and any encumbrances on a property. It includes several important elements that affect your rights as a homeowner.

CC&Rs (Covenants, Conditions, and Restrictions) are rules established by homeowners associations or developers that govern what you can and cannot do with your property, such as restrictions on exterior paint colors, fencing, or home-based businesses.

Easements grant others the right to use portions of your property for specific purposes, like utility companies accessing power lines or neighbors using a shared driveway.

Liens are legal claims against the property for unpaid debts. The most common lien is simply your mortgage on the property but can also include unpaid taxes, contractor bills, or even HOA payments (if applicable).

Understanding the Title Contingency

The title contingency protects you by allowing you to review the title report and back out of the purchase if you discover unacceptable issues. This gives you time to identify problems like unexpected easements that limit your property use, undisclosed liens that could become your responsibility, or restrictive CC&Rs that conflict with your plans for the home.

If significant issues arise, you can negotiate with the seller to resolve them or cancel the contract and recover your earnest money.

Risks and Benefits of Waiving Title Contingency

In competitive markets, some buyers waive the Title Contingency to strengthen their offers. Sellers will prefer offers without this contingency because it eliminates another opportunity for the deal to fall through. However, waiving title carries real risks. You could discover problematic easements after it's too late to back out, inherit responsibility for resolving liens, or find yourself bound by CC&Rs that prevent your intended use of the property.

This contingency should only be waived if you've already reviewed a preliminary title report and confirmed there are no issues, or if you're comfortable accepting whatever encumbrances exist. Title issues are typically discoverable before making an offer so be sure to carefully review the Preliminary Title Report before considering your offer.

If you plan to waive your the Title Contingency you should be going over the Title Report with an even more discerning eye. It's always a good idea to have your agent walk you through it or if there is something more uncertain, call the title company and ask them to explain it to you.

What the Information Verification Period Protects

This is a clause built into your Purchase and Sale Agreement that allows as set number of days (default is 10 days) to review the listing and information provided by the seller to ensure everything is accurate. It protects you from discrepancies such as the seller claiming a gas hookup exists when it doesn't, stating incorrect square footage, or misrepresenting materials use in the home. If you discover the seller's information is incorrect during this period, you can exit the contract and recover your earnest money.

When to Waive This Contingency

In the current Seattle area housing market, virtually every buyer will be waiving this clause. This well known tip goes a long way to get your offer accepted. Doing so makes your offer far more attractive to sellers as this contingency is fairly broad and leaves a lot of room for a buyer to claim something is incorrect and attempt to back out.

Ideally, you'll conduct your own thorough due diligence through independent inspections, measurements, and property research rather than relying primarily on the seller's representations. If you've already verified the property's key features and systems independently, you can confidently waive this contingency while still feeling secure in your purchase. This demonstrates your commitment and removes another potential obstacle to closing.

What the Seller's Disclosure Statement Covers

The Seller's Disclosure Statement (also known as the Form 17) is a legal document where sellers must disclose known defects, repairs, and issues with the property. Sellers are legally required to be honest about what they know, though they're only obligated to disclose issues they're actually aware of.

Be Skeptical of Minimal Disclosures

Exercise caution when reviewing the Form 17, especially if the seller claims little or no knowledge of any issues. While some sellers genuinely haven't experienced problems, a disclosure with numerous "unknown" or "no" responses can be a red flag since homes inevitably have some wear or minor issues. When you encounter minimal disclosures, be extra diligent with your own inspection and research to uncover problems the seller may have overlooked or chosen not to mention.

Waiving Your Right to Rescind Based on Form 17

When competing for a home, you should acknowledge the Seller's Disclosure and waive your right to rescind based on the information provided. This means you cannot back out simply because you're unhappy with what the seller has revealed. When waiving this right, you're relying on your own inspection and due diligence rather than the seller's statements, so ensure you've conducted a thorough pre-inspection before removing this protection.

What Early Offers Are and Why They Work

An early offer is submitted before the seller's designated offer review date, potentially allowing you to secure the home before other buyers even have a chance to compete. Many sellers indicate they don't want early offers, but listing agents are legally required to present all offers to their clients regardless of timing. If your early offer is compelling enough, you may convince the seller to accept immediately without waiting to see what other buyers might bring.

Make Your Early Offer Exceptional

For an early offer to succeed, it needs to be exceptionally strong. You want your offer to be strong enough that the seller feels confident they won't get anything better by waiting. We generally recommend coming in at least 10% to 15% above the list price in this scenario and waive as many contingencies as you're comfortable with.

The goal is to present an offer so attractive that the seller sees no benefit in reviewing additional offers. If you're not prepared to make a truly compelling offer, it's often better to wait for the review date and compete alongside other buyers rather than submitting a weak early offer that gets rejected.

Understanding Closing Timeline Strategy

Generally, offering to close as soon as possible appeals to most sellers because it gets them their money faster and reduces the risk of the deal falling apart. A quick closing demonstrates financial readiness and minimizes the time the property sits in pending status. However, not all sellers prioritize speed—some need extra time to find their next home, coordinate a move, or handle personal circumstances.

Ask the Listing Agent About Seller Preferences

Before deciding on your closing timeline, make sure your agent asks the listing agent about the seller's specific preferences and constraints. A quick phone call can reveal whether the seller would prefer a 15-day close or actually needs a full 30 days (or longer) to move out.

Sometimes sellers are juggling their own purchase and need flexibility, or they may have lease-back arrangements in mind. By aligning your proposed closing date with what works best for the seller, you make your offer more attractive without sacrificing any financial terms. This simple step of gathering information can give you a competitive edge over other buyers who assume faster is always better.

What a Rent-Back Agreement Is

A rent-back (also called a post-closing occupancy agreement) lets the seller stay in the home for a specified period after the sale closes, typically paying rent to you during that time. This arrangement can be appealing to sellers who need extra time to move, are waiting for their new home to be ready, or want to avoid moving twice. By offering a rent-back, you're essentially becoming a landlord for the duration the seller occupies the property after closing.

Understand the Risks Involved

This is one of our least preferred tips that helps get your offer accepted. When you provide a rent-back, the seller gains all the normal rights a tenant would have, and you assume all the obligations of a landlord. This includes responsibility for maintaining the property, handling any issues that arise, and following landlord-tenant laws if problems occur.

In markets with tenant-friendly eviction laws or moratoriums, removing a seller who refuses to leave can be extremely difficult and costly. You also take on the risk that the seller could damage the property or fail to vacate on the agreed date, leaving you without access to the home you just purchased.

When to Consider Offering a Rent-Back

Despite the risks, a rent-back is sometimes the only way to secure the right house, especially when competing against other strong offers. If you decide to offer one, keep the duration as short as possible, charge fair market rent, require a substantial security deposit, and have your agent draft clear terms outlining the seller's responsibilities and the consequences for not vacating on time.