In today’s tough competitive housing market it is very important that your financing looks as attractive as possible when submitting an offer. Besides the price, strength of financing is often times the next thing sellers look at when deciding on what offer to go with. The reason it is important to have attractive financing with your offer is because a seller does not want to waste 30 days going through the selling process only to have the deal fall apart days before closing due to lack of bank financing. Below are 4 ways to make the financing on your offer look as attractive as possible.


1. Work With a Smaller Bank. Smaller banks tend to not have as much red tape as your traditional big bank lenders. They can often close quicker and have more flexible terms.


2. Waive Financing Contingency. If you have zero doubts that the bank will finance your loan then it’s worth thinking about waiving the financing contingency when you submit your offer. The only issue you run into here is that you may be subject to legal action if you submit an offer not contingent upon financing and for some reason you are not able to secure a loan and cannot close on the property.


3. Put Down A Large Down Payment. A large down payment from a buyer shows how serious they are and just makes the offer look that much better. If a property is not able to appraise for the sales price a buyer with a larger down payment has more flexibility to purchase the home for more than that appraisal came in at.


4. Quick Closing Date. Once you are approved from a lender make sure you ask what is the absolute soonest they are able to close on the property. A quicker closing is always and attractive feature when submitting an offer to a seller. Sellers have daily costs when owning a home such as property taxes, utilities & lawn maintenance. The sooner you can close the more money you seller will save. Just make sure if you put a quicker closing that you have all your ducks in a row so your lender can work their magic.