You have found THE ONE. Now how do you ensure you get that home?
Making an offer on a home may be one of the most daunting parts of real estate. But do not fear – your real estate agent will help you review recent comparable sales in the neighborhood, as well as other factors about the home and other potential offer to help you structure an offer and negotiate a price and contract you are happy with.
As you put your offer together, here are a few things to think about:
Always Put Your Best Foot Forward. Everyone wants to get a deal on their new home, but in our current market, that may not be possible. You may be competing with multiple other offers. So make sure that you put your best offer forward. You may be thinking that you will start lower so you can go higher if need be, but you may not get that chance and lose out entirely.
Cash Will Always Be More Attractive. If you have it, use it. If you are getting a loan to buy the home, offer to put more money down or offer a higher earnest deposit so the sellers know you are committed.
Ask the Seller What They Want. While purchase price is huge when it comes to your offer, there may be other factors that are more important to the seller. If they are building a new home, they may prefer a later closing or a rent back. Make sure you ask what they are looking for and include it in your offer.
Shorten Inspection Period and Offer a Quicker Close – unless the seller requests otherwise. A shorter inspection period will mean less time off the market should the contract fall through. A quicker close means, the seller gets their money sooner – and probably has to pay less on their loan, insurance, and utilities.
Now it’s time to get you under contract!