Finding a place to call home can take a lot longer than you'd expect. It can take anywhere from 6 weeks to 8 months for buyers to find a property and to put in an offer, and putting in an offer does not necessarily guarantee you the home that you've always wanted or dreamed of. The seller might get bombarded with multiple offers. If you think you've finally found a place that you'd like to call home, consider these 3 tips before you put in an offer.
Put Forward Your Best Offer Every Time
There's a good chance that your offer won't be the only one that the seller has to look at. Nowadays,most sellers are going to receive multiple and numerous offers all at once. They simply don't have time to slowly negotiate with you. If you want to make your offer count and catch the attention of the seller, make sure that you put forward your best offer ever time. This doesn't include just the monetary value of the offer, but also whether you will be flexible with the moving time frame and any other terms and conditions that may be involved with the sale.
Get an Accurate Look on the Market
It's easy to get lost during a bidding war, especially if you already have your eyes on the home and can already envision a life in it. It's important that you don't start overbidding from the get go and that you don't pay a lot more than what the house is actually worth. Get an accurate look on the market by continuing to visit other homes that are within your price range in order to get a good idea of what the house that you are bidding on is actually worth. Your realtor should be able to provide you with some feedback as to what the actual market value of the property may be.
Have Your Agent Talk to the Listing Agent First
If your real estate agent hasn't already, they definitely need to talk to the listing agent before you submit your offer. The listing agent will be able to let your realtor know what terms and conditions their client prioritizes when looking at an offer. For example,the seller may be interested in an offer that has flexible moving terms rather than rigid ones, and may be willing to accept a lower offer provided that the terms are right.
Finding your dream home can take awhile, so don't worry. Your realtor will keep tabs on the market in order to help you find the best properties that meet your needs and expectations.