In a competitive real estate market, you have to make sure that your offer stands out. If your offer is too low, you may insult the seller and they may not want to work with you. So, how exactly do you find out how to send in a fair offer but not overpay? Let’s take a look at how to submit the perfect offer!
Make the Best Offer Possible
If your agent thinks the asking price is fair and you love the house, don’t play games with the seller. The chances are that if it is a great house in a desirable location, the sellers will have a lot of offers on the table. If you offer exactly what the sellers want, you have a great chance of standing out from all the other offers. If your agent knows there are a lot of offers for the house, sometimes it may make sense to offer just a little bit more than the asking price. But this isn’t a decision you want to take lightly. Make sure to work with a qualified agent who knows the market, knows the house, and who will know what is best for your financial situation.
Sometimes an offer can stand out if the buyer is flexible with the needs of the seller. Maybe the seller needs a month to move, or maybe the seller is still waiting to close on his or her own home. No matter what the situation may be, being flexible moving in can go a long way. Sometimes even if another buyer places a higher bid on the house, the seller will still take a lower offer if the buyer is willing to work with them. As long as it is reasonable what the seller needs, flexibility can go a long way when you are submitting an offer for your dream home.
Most buyers aren’t going to be able to offer cash, so one way to stand out is to have a preapproval letter from your mortgage lender. When you have a preapproval letter, it will state the exact amount you will be able to pay for a home. It’s not the same as a cash offer, but it does let the seller know you do in fact have the money to purchase their home. If the other buyer does not have a preapproval letter, your offer will certainly be much more attractive to the seller. While a preapproval letter isn’t guaranteed to land you the house of your dreams, it’s certainly a tool that can help you in the long run.
Get in Touch with Us Today!
At Clagett Enterprises, we have extensive experience serving the greater Frederick area and Western Maryland, since 1987. Our team is a full-service real estate company that’s ready to help you with your real estate and residential sales needs. Speak with a Clagett professional at 301-665-6009, or request a proposal for preventive maintenance here.