After your long search, you’ve finally found the right home for you. Now it’s time to make an offer on that house and, more importantly, have your offer accepted.
There’s no guarantee that your offer will be accepted; however, you can follow these tips to put yourself in a competitive position to get that home you want.
- Speak with your Real Estate agent. Before speaking with anyone else, speak with your agent. Have your Real Estate agent find comparable homes in the area and recent sales within the past three months. Get your Real Estate professional’s advice on how much you should offer. Your agent can also contact the listing agent to negotiate for you. They know the market and how a lowball offer might affect the chances of you getting that home. Real Estate agents have experience that you may not in negotiating, so utilize their knowledge and expertise.
- Determine how you are paying for the home. Are you paying cash or are you obtaining a loan? If you are offering cash, you can often negotiate a lower selling price since there is no middleman and no closing costs.
- Know what seller concessions you’re looking for. In some cases, the seller will cover closing costs. Maybe the home needs new carpet or paint. Make sure with your Real Estate agent that your expectations are reasonable. In a lot of cases, the seller often chooses the offer that requires the least amount of work. Make a list of seller concessions and discuss them with your agent.
- Set a maximum price. Know how much you can comfortably afford. If you are financing the home, know the maximum amount you can pay each month toward your mortgage payment. Know how much the home is worth as well.
The biggest key in making an offer is utilizing the expertise of your Real Estate professional. Keep an open mind and allow your agent to negotiate for you. Following these tips will get you one step closer into the right house for you.