When buying a home, writing a competitive offer is crucial. It will allow you to get your offer accepted. The first time.
As your Realtor and local market expert, I know the community and the housing market, but also how to help offer you advice on writing a great offer.
Getting a home purchase agreement is not just about being the “highest bidder,” but rather the bidder who offers a competitive price and places the fewest restrictions on that offer. Think of it this way, the seller prefers to work with less demanding bidders over those who may offer the highest price but have strings attached with the contract. So, when you write your offer with my advice and expertise, you need to do so with the seller in mind…for what they will be most likely to respond to with a “yes.”
So, how can you do this?
First, rely upon me to run market comps. We will look at prices other similar homes are selling for in the area. With those comps, you’ll see the original list prices and the price for which the homes sold. Having these comparative numbers gives you a great starting point for the going rate on homes like the one you’re trying to buy. With that knowledge, your offer will be a solid, substantiated bid.
Also, be an educated buyer. Know your mortgage pre-qualification. Having your home buying budget in-hand before you write that offer will eliminate the guesswork. Save yourself and the seller the disappointment of a sale that doesn’t close. Use the number you know you can comfortably afford and be sure you don’t raise your bid beyond that comfort zone. This will keep you from having any trouble at the closing table.
Are other people writing offers also? As your Realtor, I know if other offers are on the table. When offering a bid with multiple bidders, the sale price of the home will usually be greater than its asking price. Writing a competitive offer is critical in this instance to increase your chances of getting that offer accepted.
Appeal to the emotions of the seller. Yes, buying a home is a financial transaction, but it is also an emotional one. The seller is attached to the home, has memories there, has worked to refurbish it and make it what it is today. Likewise, you have an emotional attachment to it…that feeling of “this is the one” when you walk through the front doors. In a competitive market especially, a creative way to add to your offer is to write a personal letter to the seller explaining why you love the home so much, how you see your family living there and give your emotional plea. What you say may just be the push that seller needs to choose your offer.
So, rely upon me, your Realtor, who spends hours of the week in the market knowing the ins and outs of the homes listed, sold and that didn’t sell. Use a number you know you can afford, and is a fair selling price in the market. And, keep in mind that selling and buying a home is an emotional transaction. Let’s get your offer accepted the first time!
Are you looking for a new home? I would love to help you. Contact me today to get started! I have years of expertise in our market and would love to help you. Follow me on Facebook to see my current listings, goings on in the Geist and Fishers area and more!
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