Making An Offer and Increasing Its Chances of Getting Accepted- By: Vicki Hat
Making an offer can be a challenge for some buyers. This is because they could never quite express what they want to happen. They want to be able to buy the property in a manner that could be advantageous on their part. However, at most times, offers that are one-sided rarely get accepted. Even if you use the big stick method or bluff about your capacity to pay, you can never really quite intimidate the seller to get them to say yes to what you want.
Nowadays, sellers are being more meticulous with offers. With the dropping of home values and with the real estate market still recovering, they would want to get what is due to them and anything less becomes unacceptable. So even if it is a buyer's market, you still cannot get away with low ball offers. Sellers can reject your offers and if their properties don't sell, they have other options. They can diversify to make money and open the property for lease or for rent. So you cannot really pressure them to accept your offer unless they are desperate to sell.
So if you do not want to lose the opportunity to buy your dream house, you have to make an offer that creates a great impact to the seller. You may not make the perfect offer right away but you can increase the chances of getting it accepted when you do the following:
- Create offer that is a winning deal from the very beginning. Remember this is a buyer's market. With so many competitions, you do not have time to play games. You cannot say start with the lowest offer that you can make and work going up. Give the seller an optimal offer and you can them to focus on those terms.
- Know what the seller wants before making an offer. Don't be scared to know the real purpose of selling. Once you get enough data, you need to structure your offer in a way that it would be advantageous to the seller rather than making it sound more beneficial.
- Be realistic with your offers. It is a waste of time to make terms that you know can be extremely advantageous for you but not in the part of the seller. It is best to create conditions that can be a win-win for all parties.
- Know the range that the broker or the seller wants to accept. And if you want to start low, start with the lowest acceptable range. You can do this discreetly just by interrogating the seller. Use subtle questions like "how much are you expect to get" or you can state the numbers and take non-verbal cues as a sign of agreement.
- Build rapport. Making purchase offer is all about knowing what the seller wants and how to work around their terms to get a good bargain. However, you cannot make this happen if you irritate the seller or if the seller does not like you at all. You have to befriend the seller and make things convenient for him or her. Ask the right question and use their answers as cues.
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