Trends, Testimonials, War Stories & Other Real Estate Related Adventures

How Much Should I Offer?

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You’ve finally found “the” one! It’s priced within your budget, it’s priced competitively. But an offer of “asking” price just goes against the grain, doesn’t it? Let your agent guide you and DO NOT be afraid or too stubborn to offer the asking price!  Don’t feel like you’re not getting the “best” deal available if you do so. Why?  Because the upfront negotiated sales price is, quite simply, step one.

If you are willing to pay what the seller is asking, then shouldn’t the seller be willing to accommodate you on the condition/inspection issues, appraisal issue, a conflict with the settlement date & time, help with a little closing costs?   At some point, there will be something you need, be it a personal request or a lender requirement, which will call for seller cooperation. By offering the asking price, you’re paying for cooperation up front.

Go ahead and offer less. The seller may take it! But be prepared for a battle when you want them to fix something found on the home inspection (their thoughts: buyer should use the discount to pay for problems!) Be prepared for a battle when you ask to change the settlement date by a day because you have an important work meeting you can’t miss!

The contract is step one. Then come the inspections, the loan and appraisal processing, the title work, the final walk through, then the actual settlement date. It is generally a 30-45 day process, a time the buyer and seller of a property are “involved.” Make it a pleasurable experience rather than a contentious one: Let Your Agent Guide You!

 

stay tuned for more “How Much Should I Offer” scenarios…..

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