MAKING YOUR FIRST OFFER TO PURCHASE 

Sometimes it's overwhelming how many things you have to do, and the time you must spend when buying a home. But if you break the process down into manageable steps, it starts to feel more managable.

So, we have looked at a lot of homes together, and you've finally arrived at one that meets most, if not all of your needs. You're ready to make an offer to purchase! Let's look into how you go about making that initial offer.

A strong first offer should be based on comparable market data (comps), not just the listing price.  I will provide you with information about comparable properties in the area of the home you're looking to buy. We will look at homes that are in similar condition,  with comparable square  footage of livable area, number of beds and baths, and similar amenities (such as pools or a garage.) We will also look at data such as the sold price versus the listing price for a particular area. We will look at number of days on the market, and if the seller is an absentee owner or not.

This will give you a good feel for what you can offer. For instance, you might be tempted to offer 5–20% below the listing price. While that is perfectly reasonable for homes requiring repairs, not so much for well maintained, "turn-key" properties. Using the data I make available to make a fair initial offer reduces the chance of offending the seller and improves the liklihood of your offer being acccepted.

Your Initial offer should be accompanied by a mortgage pre-approval. Incuding your pre-approval shows you’re serious, & ready to buy. It allows you to negotiate from a position of strength and might even give you an advantage over other buyers who aren't as prepared.

You have options. If the seller makes a "counter offer," we will discuss your options: you can accept, counter again, or walk away. Having another property in mind gives you the leverage to walk away from a bad deal.

Call or email me and let's discuss finding you a home you will love! 
         
    MikeMcSellsRE@gmail.com 
    (954) 654-1457 
    MikeMcSellsRE.com