
You've found the home of your dreams, and now you're ready to put together an offer to make it your own. The challenge? If you fell in love with the home, someone else might have too, and you'll likely have competition when making your offer. Fortunately, there's plenty that you can do to make your offer stand out from the pack, and land your target home. Our real estate agents have the inside scoop on how to make the seller an offer that they can't refuse.
Make Them an Offer They Can't Refuse
- Time Is of the Essence
The first thing to remember when making an offer is that the seller likely has a time-frame in mind, and that time-frame is often ASAP. With that in mind, it's important to be ready to move quickly once you identify a home that meets all of your needs. Prepare ahead of time, so that you'll be ready to make a strong offer when the moment strikes.
- Understand the Market
Choosing the right price for your offer means juggling plenty of variables, but you can also learn a lot by looking at your local real estate market. Are homes selling quickly, or sitting on the market? Have you asked your real estate agent for a comparative market analysis? Does the neighborhood add value to the home? Learn as much as you can about the market, and lean on your real estate agent for advice.
- Discover the Seller's Motivations
Understanding the seller's motivations is one of the keys to making a strong offer, and each seller has their own reasons for listing a home. A seller who needs to move fast may be willing to take less cash in exchange for a speedy sale, while a seller with time on their hands might instead choose to wait for an ideal financial offer. A seller may not come right out and tell you their motivations, but you can pick up plenty of clues in conversation.
- Consider the Competition
There are two key factors to consider when assessing the competition for a home. First, how much competition do you have from other buyers? This isn't always easy to find out, but an experienced real estate agent can discover some clues. Second, how much competition does the seller have from other people selling homes in the area? More sellers may mean you can push for a better price, while more buyers mean that the competition will be fierce.
- Lead Off with a Strong Offer
Make sure that you're not making an offer for more than the home will appraise for, but otherwise it's a good idea to make your first offer your best, or something very close to it. Not every seller will be interested in making a counter-offer, and leading off strong can give you an edge over the competition.
- Work with Your Real Estate Agent
Pretty much every item on our list, from scouting the competition to researching your local real estate market, will be easier with the right real estate agent at your side. A skilled agent knows which questions to ask, who to ask them to, and how to use all of the information available to craft an offer that the seller can't refuse.
Finding the right home and making the right offer is much easier with an experienced, local real estate team at your side. Contact Cressy & Everett Real Estate to buy and sell homes throughout Northern Indiana and Southwestern Michigan.