You may have noticed that Omaha is a seller’s market

Houses in the 150k to 250k price range are getting multiple offers and often selling in just a few hours. So how do you get the seller to pick your offer over all the others?

Nothing is more defeating than losing your dream house to another buyer after a long home search. But there are things you can do to increase the odds that it is your offer picked over all those other buyers that don’t cost you more money.

I am a local mortgage broker serving Omaha, Papillion, La Vista, Bellevue, and all of eastern Nebraska. If you have questions on the Omaha housing market I’m happy to have a conversation with you.

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Use An Experienced Realtor

Realtors are a dime a dozen. In Omaha, there are more licensed realtors than there are homes for sale. But good realtors are few and far between. In a seller’s market, you cannot use your buddy who sells real estate on the side. You need a full-time agent with a proven track record of sales. There are many ways to structure a buyer’s offer beyond just the offer price and an experienced agent who knows the market can increase your chances of getting your offer accepted.

Use A Lender With A Good Reputation

A seller is looking for the highest and best offer on their home. But a seller’s listing agent is looking at the offers as well and making recommendations. Omaha is a big little town and the Omaha real estate community is even smaller. Submitting a pre-approval letter from a lender with a bad reputation might mean that the listing agent encourages their sellers to decline the offer. Online lenders are known for low rates, but, in the real estate industry, they are also known for poor communication and declining loans at the 11th hour.

Have Your Lender Contact The Listing Agent

In a seller’s market with homes getting multiple offers, it is important to stand out to that seller and their agent. Have your lender call the listing agent to tell them what a great buyer you are. A good lender will be more than willing to engage with another agent and a great lender might already have a relationship with that agent.

Pre-Underwrite Your Loan

I’m very fond of using this with my clients. Have your lender submit all of your documentation to their underwriter BEFORE you make an offer on a home. Most buyers are making offers with Pre-Approval letters. This is a letter from the loan officer that says he has reviewed the documents and has approved financing. But the loan officer does approve the loan. A letter from the underwriter saying you are pre-approved is the next best thing to cash.

Contact us…We can help!

Other useful links

• How to improve your credit
• The 20% down rule on conventional
• What is Escrow?
• How is income calculated?
• Why your assets matter
• Mortgage Calculator
• Is Credit Karma accurate?
• FHA vs Conventional, which is better?

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