Seal the deal: how to make an offer on a home: making an offer on a home is like trying to speak Spanish decades after your last high school Spanish class. Some words are familiar… Fuego, Hola, Pantalones… but you’d be much better off finding a translator. Here’s how you make an offer if you really want to get the house you like.
Price Your Offer Right
Remember, the market, not you (or the seller), determines how much a property is worth, so don’t try to lowball the seller. You’ll only offend them. Instead, look at comparable homes that have sold recently in the area and come up with a fair and reasonable price. Also, consider what repairs or renovations may be needed and if there are multiple offers on the table. You’ll have a better chance of having a seller consider your offer and accept it when you factor in all of these components into your pricing analysis.
Consider Your Contingencies Carefully
Contingencies are what protect the buyer in the home-buying process.
The contingencies you write into an offer are designed to safeguard you (and your earnest money), not the seller. Everything from securing a loan to selling your current house to the closing date you choose could negatively impact the seller. So they may counter; you have to be reasonable in consideration of requests they may make in order to come to an agreement.
If your market is extremely competitive, you’ll want to consider your contingencies very carefully. In a sellers’ market buyers who ask for too much get left in the multiple offer dust. You want to seal the deal with a carefully crafted offer.
Think of your financing, home inspection, title, and appraisal. Sometimes people take significant risks and remove almost all of their contingencies to make their offers more appealing to a seller.
Overall, aim to balance protecting your interests while keeping your offer attractive to the seller.
Create A Clean Offer
So many offers get declined by sellers simply because the real estate agent wrote a sloppy offer. Ultimately, the offer is the first impression you make. It’s a signal of how the rest of the transaction will go.
No one wants to spend 30-45 days in escrow with a buyer who’s disorganized, dysfunctional, and in disarray.
So make sure your real estate agent writes a clean offer that’s organized, simple, and complete. You’d be surprised by how many agents get this wrong.
If you’re thinking about making a move (or know someone who is), I can help! Just reply back to this email or send me a text. No pressure, no sales tactics, just helpful advice and the guidance you need!
And finally, if you’re not thinking about making a move just yet, feel free to save this link for future reference, so you can come back to it!
Come back soon!
