4 Ways to Get Your Offer Accepted

Home prices in San Diego have fallen along with mortgage interest rates, resulting in multiple offers and high competition.  Here are 4 great tips that our company utilizes to help our client's offer stand out from the crowd.

1. Always Provide a DU Underwriting approval with the offer

All of our offers are accompanied by Fannie Mae's or FHA's DU (Desktop Underwriter) underwriting approval. An offer letter accompanied by a DU underwriting approval will always carry more weight than a basic approval letter, as a DU underwriting approval shows the most important information needed on a buyers profile to give the seller a good idea of the strength of the buyer.

2. Make sure the loan approval is current

We constantly double check that the date on the buyers approval letter is current and the DU approval has an approval date from the past 30 days. Fannie Mae and FHA have been making changes to their DU underwriting guidelines very frequently recently, so the buyer may not qualify for the particular loan program that they got approved for a few months ago.  It is our job to make sure your offer is accepted, and our clients will qualify under current loan underwriting guidelines.

3. Provide proof of down payment funds

By providing proof of down payment funds, the buyer showing the seller that they are serious about their offer and they have the money to close the deal.  We usually will send over recent bank statements with the offer, or if the buyers are going FHA and are getting a gift from the parents, we will provide a copy of the gift letter from the parents.

4. Provide a copy of the buyers credit report (first page only)

Very few offers come across with proof of the buyers credit scores, so this is a great way to stand out. If our client's credit scores are high, we will list them on the pre-approval letter and point this out on the offer. We also provide a copy of the first page of the buyers credit report that lists the 3 credit bureaus and the 3 fico scores, and we make sure to black out their social security numbers for privacy issues. This is a great way to provide full transparency on your offer, so the seller can see the credit strength of our client's profile.