Monday, August 8, 2016 / by Teresa DiPeso
1. Why are the sellers selling? This step requires a bit of homework. We will go through public records and find out what we can about the property, about the owners, and try to determine such factors such as whether or not they owe anything on the property, and if so, how much.
2. Let the reason be your guide. After doing the homework, let the answer dictate how you proceed with the figure of your offer. Are the owners relocating? Are they staying in the area? Are they simply retiring? All of these factors will help us determine how motivated and flexible the sellers will be.
3. Appeal to the seller's personality. Every seller is motivated by price, no doubt about it. Money talks! But, if a seller has two equal offers from you and another buyer, they are more likely to go with the Realtor-buyer team whom they like the most. It's human nature, and it's really that simple! Even a letter introducing yourself to the seller and briefly explaining why you want to buy their home can be the difference maker. Sellers love their homes, it's natural that they'd want someone else to love it as much as them.
4. Take it seriously. Make an appealing offer, one that the seller will want to respond to. Many sellers will be insulted with too low an offer, and that can often cause them to shut you out.
5. Know the market. Your Realtor should be able to inform you as to what offer-contingencies are typical in the market in which you're looking to buy. Know your rights, protect yourself, be considerate of the seller, and you've got a great shot.
These are just five factors in the process of making an offer. Choose your real estate agent wisely, it can make all the difference and save you thousands of dollars, and your precious time. I'd love to be the Realtor to guide you with expertise through this process.