Attractive terms in a contract

There are many ways to make an offer more attractive that have nothing to do with price or contingencies.

The closing date is frequently a prime consideration for sellers. I try to determine, based on a quick phone call to the seller’s representative, what is the seller’s timing to close. Sometimes sellers want to move right away; other times sellers haven’t even identified their next property and would like some time to do so.

Allow the seller to select escrow. Often the seller’s representative has a preferred escrow company. In a competitive bidding situation, every effort to come the seller’s way helps. Unless you have strong reasons for selecting a particular company, it may be best to allow the seller to choose the escrow company.

Limit repair costs to a specific dollar amount, or make the transaction an as-is deal. This may help give seller’s ease that you will not be nickel-and-diming them. Simply write into the contract, “Buyer requested repairs not to exceed $500 in value.” You, of course, reserve the right to pay for repairs beyond this value, or terminate should major repair items be uncovered during the inspection.