Offers Strategies That Work - Part I

In the world of buying real estate, knowing what to offer on a home can be, one of the most anxiety filled decisions of the process. Am I getting a deal?? Am I paying too much?? Will the seller be interested in my offer?? Are their other offers?? How much are the other offers?? What can I do to set my offer apart from other offers?

The number of questions swirling around your head as a buyer (and real estate agent) can be overwhelming, especially when you’re ready to buy a home.

If you’re in the market, everyone is looking for a deal. But if you’ve been paying attention over the last few years, sellers have held the upper hand in real estate because we don’t have enough homes to sell for various reasons. Limited inventory keeps prices elevated. Buyers who’ve chosen to wait out this cycle may wait a very long time. And because there’s pent up demand that has been building for years, it’s hard to imagine a time when we’ll have a glut of inventory again anytime soon.

When approaching a seller today, it’s critical to look at their pricing strategy. Did they underprice it or overprice it?? Or did they do the smart thing and price it against market expectations for their home in their area?? Sellers who price their home well, generally find a ready, willing and able buyer far faster than sellers who do not. Nothing says run faster than an overpriced home with a stubborn seller. If you think negotiating the price is tough, wait until you get your home inspection report with issues.

As a real estate agent in Tacoma and Gig Harbor, I always call the listing agent to gain as much knowledge about the home, and the sellers disposition as possible. I recently had an agent tell me their seller was in financial distress and needed to sell. That information alone can help my buyers potentially have the upper hand. As their agent, I’m looking for angles to win. But I’m also working to have a positive transaction between two interested parties.

If a home has just come on the market, sellers are likely not looking to take discounted offers. Meaning, don’t arrive to the table with offers 5%-10% under asking price. You’ll often insult the seller who spent time setting their price, and the seller won’t be interested in sending you a counter offer below asking price, if you get one at all. I tell my clients we want to motivate and not irritate. Finding out how to get what you want, while being open to helping the seller in other ways can go far, in creating a successful transaction.

Contingencies are often necessary for buyers to feel protected in the transaction and for the seller, the fewer contingencies the better. Septic, well and appraisal can often fall on the seller to assist with, and inspections, financing and title often fall to the buyer to work through. Each party has a vested interest in the success of the home closing.

If you’re in the market to buy a home in Federal Way, Tacoma, Gig Harbor or Puyallup and you need guidance on how best to craft a successful offer, please don’t hesitate to reach out. I have been a full-time Realtor?for more than 15 years and have sold hundreds of homes. You can contact me at (206) 643-8845 or register at https://erikmolzen.bhhsnw.com? #RealEstateTips, #HomeBuying, #OfferStrategy, #RealEstateAdvice, #BuyAHome, Contingencies are often necessary for buyers to feel protected in the transaction and for the seller, the fewer contingencies the better. Septic, well and appraisal can often fall on the seller to assist with, and inspections, financing and title often fall to the buyer to work through. Each party has a vested interest in the success of the home closing.

If you’re in the market to buy a home in Federal Way, Tacoma, Gig Harbor or Puyallup and you need guidance on how best to craft a successful offer, please don’t hesitate to reach out. I have been a full-time Realtor?for more than 15 years and have sold hundreds of homes. You can contact me at (206) 643-8845 or register at https://erikmolzen.bhhsnw.com?