Even in todays market, well priced homes can get multiple offers! It is a good plan sometimes to list lower, get people top compete and end up above your list price! Potential home buyers should be ready to make an informed, realistic offer that will stand above the others. But sometimes there is more to it than simply offering the highest dollar amount. The following suggestions are just a few things to consider on your next house hunting adventure.
1) Be flexible
Money is often not the sole incentive for a seller to accept your offer. If a seller sees that you are willing to compromise on things like the closing date or willingness to overlook relatively minor repairs following the home inspection, he or she will remember you when it comes time to decide on an offer. Other things you can do to show you're serious include offering a sizeable amount of up-front earnest money or have the cash on hand to make a large down payment.
2) Be ready to buy immediately
Get yourself pre-approved for a mortgage before you start actively looking for homes. Let us use your pre approval letter when we put in your offer. In today's mostly uncertain real estate market, it can take a long time to get approval on a home loan. If you are already approved when you make an offer on a home - even one on which there are multiple offers - yours will immediately jump to the head of the line.
3) Expect counter offers
If you have a well-informed, thorough knowledge of your financial means when you make an offer on a home, you will know what your limits are when it comes to deciding what concessions you can afford to make if the seller bounces a counter offer back at you. You will be able to quickly determine to what degree you are willing to meet the seller's counter offer terms, such as a higher monthly payment or flexibility when negotiating the myriad contingencies on the closing contract.
Our experience is your best resource when it comes to negotiating with a seller. We always keep you totally informed and are with you from start to finish.