Health & Fitness
10 Steps to Getting Your Offer Accepted... In a Sellers Market
Buying a home in to days market can be hard but with these tips you could win big.
10 steps to getting your home purchase offer accepted
Why Most offers get rejected by sellers
In this Sellers market knowing how the 10 steps to getting your offer accepted is key to owning your dream home.
Find out what's happening in Lawrencevillewith free, real-time updates from Patch.
1) Offer Price is Low!- This is the first thing that a Seller looks at when in an Offer comes in! If you believe that a Lower Price is justified, have your Agent present some comparable homes or an appraisal to back up your offer.
2) Fail to understand your Local Market - Is it a Buyer's Market, a Seller's Market, or just a Market? Look at actual sales data, including time on market, inventory (number of houses for sale), and sales price to list price ratios.
Find out what's happening in Lawrencevillewith free, real-time updates from Patch.
3) Fail to understand the Sellers motivation - Moving out of town, moving up, investor unloading an asset, bank owned, short sale, Court-ordered sale. The Why of the sale is almost as important as the how much of a sale
4) No Pre-Approval Letter or Proof of Funds Letter - Seller take buyers seriously when buyer have done their homework and gotten pre- approved
5) Contingencies - Financing and Inspection contingencies are common and expected. But for how long? Five days looks better than 14 days or 21 days! Other Contingencies can be detrimental to an offer. For example, "Buyer's Home Must Sell First". Seller want to know the home is SOLD not wait on contingencies to clear.
6) Asking for Personal Property - They are selling a house not the pool table and the treadmill in the basement, stay focused and get the deal closed . More often than not the seller with ask later if you want to buy the 800 pound treadmill in the basement, who wants to move it anyhow.
7) Closing Date - Seller want to sell and move on. Schedule a quick closing and get a quick yes to your offer
8) Not Understanding "Multiple Offers" if you are in a Hot Market- In this HOT market you have to come in with your best offer 1st. That means no holding back hopping for a counter or highest and best request . Sleer are not obligated to respond to all offers Make sure yours gets their attention and a response.
9) Ignoring Seller Requests- Seller has made specific requests in the MLS Listing (preferred Title Closer, length of Closing, days for Acceptance, etc.) and your Offer blatantly disregards those requests. Winning the deal is about giving a little up to get allot.
10) Work with an Experienced Realtor - your wife's sisters collage roommate, maybe a nice person but lack the knowledge and experience to get the deal done when the negation gets tough. Oh and part time agents are part time for a reason .. work with an REALTOR is that a full time member in good standing of your local board. It could be the difference between getting the home of your dreams of having to kill a friendship with your wife's sisters collage roommates.
As an experience REALTOR that has sold over 300 homes in the last 4 years I can tell getting an offer seen and reviewed and accepted takes knowledge, experience and connections, skills needed now more than ever in this HYPER Sellers market .
If your ready to buy a home check out this great free search tool
