Real Estate Matchmaking - On Both Sides of the Rainbow Tunnel

10 Steps in Buying a Home: Part 6-Negotiating Towards Ratification

10 Steps in Buying a Home: Part 6-Negotiating Towards Ratification

10 Steps in Buying a Home: Part 6-Negotiating Towards Ratification This is the point in the 10 Steps in Buying a Home where you really find out what your true commitment is to buying this house! Do you want this house more then the other buyers who have submitted offers? There are several terms and conditions written into your offer in addition to price. The seller and their agent consider the terms of all offers and weighs them with the price to find the very best offer. Often in a multiple offer situation they might decide to either accept the best offer with the most desirable terms or counter one or more of the offers to work towards getting the best price with the best terms in one ideal offer. This means you may be working with your agent to negotiate the best possible terms and price you can offer. Hopefully your offer is at the top of the heap and in consideration. What Should I expect in the next Phase Of Buying a Home? Here are the options: Your offer is accepted without a counter offer – YAH!!! Your offer is the best but sellers counter you to change the terms or price- Still YAH!!! Seller offers counters to 1 or more other buyers – Still in the Game! Your offer is not in the running – All hope is not lost. Other buyers could back out #1 is, of course, the best option. The sellers will sign your offer and return to your agent and BOOM – you’re in contract! #2 If the next best option. If...

10 Steps to Buying a Home – Step 5 The Offer

10 Steps to Buying a Home – Step 5 The Offer When do you know you are ready to make an offer on a home? Pre-approval from lender – Check! Private home tour with agent – Check! You may look at 3 homes or 20+ homes before finding one that speaks to you, matches your needs/wants and is within your budget. Remember that finding the perfect home for you is a process and each buyers’ process is as unique as they are. We are currently experiencing a strong sellers market. What does that mean for you as a buyer? High demand, low inventory. Typically, less then 3 or 4 months’ worth of inventory makes for a sellers market which means you may be competing for the same property with other buyers. Bottom line is you might have to submit offers on more then one house. How Do I Make My Offer Stand Out? There are steps you and your agent can take to make you and your offer stand out to the sellers and their agent. See the house more then one time if possible. Go to the open house and introduce yourself to the listing agent. Ask questions. Show interest. Spend time in the house and really consider all the features, finishes, floor plan and location in the city and on the street. Let your agent know immediately if your interested so she can request the disclosure packet and get specific seller needs/wants and offer details. Listing agents appreciate knowing which buyers are considering submitting an offer. Only Make Offers on Homes You Have Full Intention of Buying...