When you find the perfect house, you want everything to go perfectly. Unfortunately, that's not always how real estate transactions go. In fact, they're usually filled with a certain amount of stress, especially when it comes time to make the initial offer. Homeowners aren't always will to accept the first offer. This is particularly true in a seller's market; when it seems that the sellers hold all the cards. If you're ready to make an offer on the home of your dreams, here are four steps that will help you through the process.
Lean on Your Real Estate Agent
If this is your first real estate transaction, you might not be prepared for the stress that comes with making that initial offer. This is where it's crucial that you lean on your real estate agent. Your agent has been through this a few times, and they know how to handle the situation. The most important thing you can remember is that patience is key during the offer phase of any real estate transaction.
Be Prepared to Meet the Counteroffer
You've put in the initial offer. Now it's time to wait and see what the seller does with that offer. If they decide to counteroffer, don't wait too long to respond. It's important that you be prepared to meet the counteroffer as soon as possible. Waiting too long could make the seller withdraw the offer, or go with a separate buyer altogether. If you need a day or two to contemplate the counteroffer, let the seller know. That way, they know that you're taking the counteroffer seriously, and they'll give you some time to discuss it.
Pay for Your Own Add-Ons
If you've found the home that you really want, but you're worried that it's going to get away from you, look at the concessions you've asked for. While some of them are crucial, others might be concessions that you can walk away from. For instance, if you've asked for things a fresh coat of paint or a home warranty, you might want to offer to take those off the table. This is particularly important if those items seem to be the sticking point in the negotiations.
Don't be Afraid to Throw in the Towel
When it comes to making an offer on a house, don't be afraid to throw in the towel, especially when the negotiations don't seem to be going anywhere. Throwing in the towel, and withdrawing your offer, can have two beneficial outcomes. First, you've freed yourself up to look at other homes. Second, the sellers may realize you're serious and call you back to the bargaining table.Share
29 April 2018
I have always been someone who is passionate about making the world around me more beautiful, which is probably why I was drawn to real estate initially. I really wanted to create a place where me and my family could spend a lot of time together in a peaceful, relaxing place, so I started looking for places in my area that were fit for the job. Within a few months, I was able to find an incredible property that was within my price range, so I purchased it as soon as possible. This blog is all about choosing beautiful real estate.