Real Estate Pro Articles

How to Increase Your Chances of Getting an Approved Offer

[Valid RSS feed]  Category Rss Feed -
By : Faith Warner    99 or more times read
What marks the success of a real estate transaction? A real estate transaction does not end when you find a house that met all your criteria of an ideal home. You are actually coming to the near end of a real estate transaction when you finally make an offer to the seller. The home buying process goes on once your seller agrees to your offer. However, the transaction stops with a sad ending once your seller rejects your offer.

If you want to experience a happy ending and get the house of your dreams, you should read this article and know how to make a reasonable offer. By knowing how to make a surefire offer, it would be easier for you to get the keys to the front door of your new home.

Understand the buyer’s market

Since the real estate market is currently in a buyer’s market, it would be harder for you to come up with a reasonable offer that any seller could not resist. A buyer’s market does not mean that buyers could demand everything they want from sellers. The competition among different buyers makes it harder to acquire a house under a low price. If you choose to make a low ball offer, you might lose the chance to own your dream house once another buyer outbids you.

The seller is still the boss

The foolproof way to come up with an irresistible offer is to know more about your seller. Try to research about his current financial status and condition. Find out the reason why he chose to sell his home. If he is currently having a hard time with his finances, he might be more inclined to accept smaller offers. If he chose to sell his home because he had to relocate to a new neighborhood, he might take his time and wait until someone extends an offer that would be profitable for him.

Research about the house

It is not enough to know more about your seller. You should also research about your prospective house in order to know its market value and previous history. Ask help from your real estate agent and make him inquire about the original price of the house when its seller bought it. Its original price would make it easier for you and your agent to think of an offer and increase the chances of making the seller accept it.

When it comes to the history of the house, you should discover how long this house has been on the market. If it has been idle for too long, the seller might consider accepting a small offer. Of course, a lowball offer is still risky because it might make the seller lose considerable amount of profit, hence stopping him from accepting your unreasonable offer.

Reality check, please

The key to increasing your chances of having an accepted offer lies behind the practicality and realism of your offer. Reassess your offer a couple of times before telling your seller about it. Try to put yourself on the shoes of the seller, and imagine how you would react to the offer that you are planning to make.

These four tips would guide you while you are trying to think of a real estate offer. By keeping these things in mind, you would definitely succeed on increasing your chances of gaining your seller’s approval.
Greater Phoenix Waterfront Property, Fixer Upper Homes in Greater Phoenix and Greater Phoenix Real Estate with Pool can offer you a whole deal of information about the real estate market. Whether you want to sell your house, buy a property or rent one, getting all the information that you need will give you a great advantage.

Related Articles

Print This Article
Add To Favorites




© All rights reserved to Real Estate Pro Articles