So you have found a home that you would like to put an offer in on, but it looks like the home may be over priced. What do you do? First and foremost when contemplating placing an offer, a buyer should always have their real estate agent run a report of comparable home sales. By doing this, you will have a greater knowledge about what similar homes are selling for. Once you know what similar homes are selling for then you can make a decision as to what you would reasonably want to offer for the home.
When placing your offer, it is wise to include recent closed comparable sales so that the seller understands what you are basing your offered price on. Sometimes home sellers need to see the hard facts before they will consider an offer lower than their listing price. Also be sure that your agent prepares a complete offer package. Including supporting documents such as proof of funds to close, pre-approval letter, etc. will help to show that you are a serious buyer.
not accepted. One thing that buyers must understand is that the “cleaner” and more competitive the offer is, the better chance they will have of getting their offer accepted. When a buyer’s agent submits an offer, it is equally important that the offer does not contain ambiguous language. Most certainly, however, the offer needs to appear to be one that is based on a genuine desire to go forward with the purchase barring any unforeseen events.