You’re ready to make an offer. You’ve done your homework by visiting similar homes and your agent has given you the benefit of their extensive experience with market values. You have confidence that you know the homes that are priced correctly and which ones are over priced for their condition.
However, there may be “non-tangible” factors that don’t fit neatly into the equation. Your representative will endeavor to discover variables like the seller’s motivation and if there are other offers coming in from other buyers for the home you have chosen.
If the home you want has been listed much longer than the average days on market, the sellers may have become more realistic and more motivated to accept an offer at the true market value. Some sellers are motivated by the pressure of having purchased or made an offer to purchase another home. Then time becomes more important than money. No one wants to pay the mortgage on both homes for very long or risk being able to purchase the new home they’ve chosen because they can’t sell their current home.
Also, you want to know if other buyers are making offers on your chosen property. If so, make your first offer your best offer, because sellers are unlikely to counter in this situation. They will take the best offer that is presented to them. But don’t make an offer for more than your agent believes the home will appraise for, or your financing will fail and you’ll be back at square one without the home of your dreams. Talk to your experienced, local agent about the facts and the variables, and then make your offer with confidence.
Contact the Kathy Henne Team RE/MAX FINEST by calling (937) 778-3961.