Making an offer on a Home

Making an offerSo you have found the perfect home and you’re excited to be making an offer. As you may discover, this process can be a bit nerve-racking! Suddenly you find yourself in a balancing act, wanting to win over the seller but also get a bang for your buck. WayPoint Real Estate Group can help you maneuver this tricky ordeal. Below are just a few pointers to get you started.

  1. Do your research

Waypoint Real Estate Group can help you with the research by performing a Comparative Market Analysis (CMA). A CMA compares the home you’re interested in with similar homes in the surrounding area to pinpoint the true value of the home. “Similar homes” can mean the same number of bedrooms and bathrooms, square footage, amenities, features, etc. This is the most reasonable way to find the fairest number to offer the seller.

If you discover the asking price is a reasonable one, making an offer to match it can be a smart move. This will eliminate almost all negotiations and greatly increase your chances of sealing the deal.

On the other hand, through the CMA you might discover the asking price is unreasonably high. Here you must be careful. You don’t want to insult the seller by making an offer way below asking price. It can be useful to include the CMA data when submitting your offer to add a logical argument behind the number you’re presenting.

  1. Be Considerate

Put yourself in the seller’s shoes. Although they are prepared to part with their home, they probably still have some emotional attachments to the house. It’s reasonable to assume they would want to sell the house their daughter took her first steps in onto a likeable and trustworthy buyer. How do you achieve this connection? A cover letter. Adding a from-the-heart note onto your offer can separate you from other buyers. If this is something you are comfortable with, explain why this house is the one for you and how excited you are about it. When making an offer, you can stand out among the rest by adding this human appeal to tug at the heartstrings of the sellers.

  1. Be Smart

After making an offer you may be excited to seal the deal and sign a contract, but don’t be so hasty that you overlook important elements! In today’s competition, some buyers are opting to waive the inspection period in order the get their offer accepted. This won’t help you in the long run. Take the time to have the home professionally inspected.  The inspector can determine the condition of important systems and appliances. If something is majorly wrong or harmful, now is the time to renegotiate or walk away. After all, you don’t want to be stuck in your dream home with a leaky roof!

Ideally, your offer will make both you and the seller feel reassured and excited about the future. Once both ends have agreed to the terms, congratulations! You are well on your way to owning a home!

Waypoint Real Estate Group serves Central Florida, specializing in Celebration, FL real estate.

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