You found your dream home and you're ready to make an offer; however, this is where the process begins to get tricky. Paperwork starts to build and you could be facing cash buyers who are willing to buy that very home out from under you.
You need to move quickly to make an offer that speaks to the owner. This is where having a real estate professional by your side comes in handy. As your real estate agent, I can help you find your perfect home, move quickly through the terms of sale, and help you put your new welcome mat in place the day you move in. Here are three ways to let a home seller know you mean business.
Pick the Right Price The price of a home depends on the prevailing market conditions at the time of its sale. If it is in high demand or located in an upcoming neighborhood, making a low-ball offer is not a good idea. A comparative market analysis (CMA) is your best gauge for making a fair offer. I can provide you with a CMA when you're ready.
Make a Smart Offer A written offer is legally binding, but a simple letter is not. Ergo, ensure you cover all your bases with a legal document such as a Residential Purchase Agreement. It is a good idea to accompany your offer with a personal letter to the seller because this can give you an emotional edge over competing buyers. A letter is especially helpful when competing with cash buyers or if your offer is below the asking price. It can sway the seller toward you or at least level the playing field.
Consider Contingencies Carefully Contingencies are essential because they protect your interests. Include some standard contingencies in your offer. Consider dropping some requests in a hot market; however, don’t forego too much like dropping the inspection clause in an older home just to sweeten the deal.
Regardless of how much you love a house and are excited about the prospect of owning it, keep your emotions in check so you don't overpay for the home. Also, if the seller refuses or counters your offer, make a new one.
I'm always happy to help when you're ready to start your buying journey. Contact me, and we'll set up a time to answer any questions you might have.
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