WHAT TO OFFER
When making an offer on a property, many factors come into play in the initial offer. You never can know for sure the price the Seller is willing to let their place go for, so this is where having a REALTOR® with excellent negotiating skills comes in handy! You need to rely on the advice and experience of your REALTOR®. If you don’t trust or value their opinion, then you probably shouldn’t have hired them in the first place. But at the end of the day, your REALTOR® wants you to be happy, and will definitely keep that as top priority when putting in an offer.
Things to consider are:
- How long has the property been on the market?
- If a new listing, how competitively priced is the property? I've had situations where the home was so well priced, multiple offers are received within days. In this situation, offering a few hundred dollars over list made the difference in owning versus second place. In other situations, it's obvious the property is $20,000 overpriced and a lower offer can be justified and submitted with documentation to back the offer up.
- Current market conditions can play a big factor. Sean Upshaw is active in the local market, knows what's going on in the market, and can advise you accordingly.
The best advice I would give in what to offer the Seller is "get good advice and listen to it!" Too low of an initial offer could insult the Seller. Too high, and you may be leaving money on the table.
