This is the third article in a blog series on the disadvantages of online home loans. If you’re just joining us, you might want to check out Part 1 and Part 2 first.
Online Home Loans – How Your Choice of Lender Can Weaken Your Offer
Have you ever found yourself in a bidding war when buying a property, or perhaps just been in a situation where there are multiple offers? When a property is getting a lot of interest, it’s important to strengthen your offer as much as possible.
Your offer’s strength is based on more than just the sales price. The types of home inspections you want, the length of the inspection period, the length of other contingency periods, and yes, even your choice of lender can strengthen or weaken your offer. Many sellers and listing agents are skeptical when it comes to online home loans.
I’ve had buyers who have been in multiple offer situations and have almost lost properties because they wanted to go with an obscure online lender that the seller and listing agent didn’t know or trust. The bottom line is that when a seller receives multiple offers, they want to go with the offer that will give them the highest net sales price, along with the best chance of closing.
Read Part 4 in my blog series on online home loans. We’ll continue discussing how your choice of lender can impact the strength of your offer.
Email me at DarrenRobertsonHomes@gmail.com for a list of the top 10 homes you can buy for zero money down in the Northern Virginia community of your choice!