Make Offers
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Make Offers
I want to make an offer on a house I like thats been on the market for 8 months and no previous offers.?
Its listed for 306K now, as opposed to 334K 8 months ago. The woman has had no offers and wants to move. Since the market is a buyer's market, and she's had no offers, people tell me to really go much lower than the asking price on the offer. I am thinking of offering 250K considering it needs a little work. I anticipate her counter offering until we make an aggreement, but I want to stay about 265 or 275K.
Do you think it is a good idea to lowball her that low on the offer? I really like this place, and its been on the market forever with no previous offers. but I am on a budget. Do you think she would go for that, or do you think she wouldnt budge on the price?
Any advice would help! Thanks!
Keep in mind the woman paid 269K for it 3 years ago. Maybe she would be happy to at least break even?
Low balling is never appreciated??? Don't pay attention to whoever wrote that. You are buying a house, not a piece of gum. It's price negotiations, no ones feelings are going to get hurt and if they do they are WAY TOO sensitive.
Low balling is part of the negotiation game. It is a very good tactic to use. If the person is determined to get a certain amount, they won't accept anything but. More than likely since this house has been on the market for 8 months, the seller hasn't been willing to negotiate and is now realizing the harsh truth of selling a home right now. No negotiation = NO SALE. A low ball figure will give you an idea of where their head is and what they are willing to accept.
Now I wouldn't go too low however. Then your seller might think you aren't serious or can't afford their house. I'd start around $257,000 to $260,000. See if they are willing to offer seller concessions to help with closing costs as well. It will help you to come up with less money out of pocket.
Hope this is helpful
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"I'm going to make him an offer he can't refuse."
Making Offer in Purchasing Home
Once selecting the house that you want to buy you have to make a written offer to the seller. The seller can accept your offer without any changes or he can make a counter offer by making few changes in your offer or he can completely reject it. Main thing is it has to be accepted by both the parties for the sale transaction. However in all the three scenarios it can be seen that the seller has an upper hand in the decision of the deal than the buyer. Therefore as a buyer if you really want to buy the house then you have to make your offer in such a way that it is accepted. For this you have to watch over few things before making the offer.
Firstly your offer should quote the price in a way so that it is not straight away rejected. For this you have to make a comparative study of the property rates in the vicinity. Try to find the latest sale of similar property in the area. Make sure that the sold property has almost the same pattern as the property you are interested in like the area, rooms, age, type etc. Also the deal should not be more than few months old or rather of current month and the sold property should be in the same locality somewhat a few blocks away.
This will give you a rough approximation of the price of the property. Now you should think about the advertised price. Different sellers quote the price differently. Some quote it overpriced, some pretty close to what they expect ultimately and some under price so that they can attract more buyers. You should make the offer bearing in mind the advertised price.
You should always keep in mind that the seller is not obliged to sell the property to you. Therefore your bid should be more eye-catching than the other prospective buyer’s. For this you can identify with the need of the seller to sell this property. Maybe he is in need of money or maybe he is moving out or maybe he does not need the property anymore as he has another property and he is just waiting the right price. All these cases tell you about the seller’s psychology. He does not have much time to hold his property or he is waiting for the right opportunity and not in hurry to sell the property.
Therefore if you make an offer keeping these circumstances in mind then you are bound to get your offer accepted. Another important thing you should keep in mind is that by no means you offer contingencies to the seller. Like for example, “when my loan is approved or after I sell my house.” As a buyer giving these contingencies to the seller will eventually make him reject your offer right away because the seller might not like to wait for you as long as he has other buyers lined up for his property. He is not obliged to sell the property to you. So you have to arrange yourself completely before you set out to purchase a property.
An offer after its acceptance from both the parties becomes the sale contract which act as the blue print for sale. Therefore it must have all the necessary information and the entire section that both the parties have agreed upon so that now as a buyer and a seller you are in a legal contract and the deal is beneficial for both.
About the Author
If you are looking for luxury homes see: Luxury Phoenix Properties and Pool properties in Phoenix and Lake Area Homes for Sale In Ahwatukee Community.
by admin on March 15th, 2010 Tags: cosmetics, how to make offers on a home, make, money, offers, organic, sellers make offers, when do durham make offers, when do universities make offers
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