Finding the perfect house can be a long process. Some people spend months looking for the right home, but they often end up feeling discouraged and frustrated after getting rejected by several sellers because their offer has been deemed unacceptable. In this blog post, we will go over some pro tips that could make your offer more appealing to sellers and help you get accepted!
Be prepared to negotiate and compromise when it comes to getting your home. If it is a seller's market, you will need to decide whether you are willing to go over asking, be flexible on closing or buy in a neighborhood
Your agent's job is to sift through the hundreds of homes for sale and show you the right property for you. Communicating with your real estate agent will help them understand your needs/wants and only deliver the perfect properties for you to place an offer. This helps with both buyer's fatigue and crafting the perfect offer on a home. Don't forget, this part of the process can take quite a while and it's important to have patience.
Don't always ask to reduce the price. You may be able to get more for your money by asking the seller to pay some of your closing costs, or other fees. This can be structured by asking the listing agent what is important to the seller.
Your offer should always include contingencies that protect you in case something happens with inspection or appraisal. However, in a competitive market, you may need to waive contingencies such as appraisal or inspection. This does not mean that you won't have these ordered, it just means that you cannot use this to back out of the contract.
Sellers want to know that you will have no problem closing on time. They have lives and often times the sale of their new home will be contingent on closing on the sale of their current home. This allows the seller to focus on what is most important to them and be more willing to compromise.
When negotiating with the seller of the home, if they do not accept your offer initially, there may be room for negotiation. On average this typically occurs three times before an agreement has been reached. Often times your agent may recommend that you offer a lower number first and then come up as needed.
Having this strategy in place before you start your home search will allow your realtor to write competitive offers without constantly getting your approval each time.
The purchase of a home is an important and complicated decision. You want to make sure you have all the information that will help you take care of your family’s future needs, which includes understanding how to craft an offer that sellers are willing to accept. For more information on this topic or any other question related to buying/financing a home, call our team today!