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Making offers that get accepted is about listening and asking the
questions that elicit vital information— knowing what your client
really cares about.
 Sample
Residential Purchase Agreement |
| WHAT DO WE DO? |
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First, we will find out how long the home has been on the market,
what was the initial asking price and how much has it come down from
the original price. A home that has been on the market for a long
time may either have problems with it, the seller may be asking too
much for the home, or a seller may be becoming desperate to sell the
home. This will have a major bearing on how you make your original
offer on the property
Second, throughout our walk-thru(s) of the the property, we will jot down
any potential problems, concerns, hazards, defects, worn down appliances,
or other types of deficiencies that you see in the home. A proper inspection
will be provided.
Third, ask questions about why the current owners are selling.
Pry a little bit to find out as much as you can. If they are moving
because of a transfer at work or because they had a new home built
somewhere else already, they may be more desperate to sell.
Fourth, Figure out what is the most you want to spend on a home
or property and what you feel comfortable with as your maximum bid;
(actually you should probably do this before you even begin looking
at properties). You should also consult with your mortgage professional
to see how much you can be qualified for to make sure you all are
on the same page. Remember, just because you may be pre-approved
for a certain amount does not mean that you have to buy a property
worth that much. This is one of the big reasons as to why there
are so many foreclosures, because people bought as much as they
were approved for instead of what they could afford and maintain
their current lifestyle.
Fifth, you need to consider the market conditions. Is it a buyer’s
market, a seller’s market, an extremely “hot” real estate
area, etc…? If houses in a certain area or community are selling as
quickly as they are listed, you may end up having to pay over market value
to buy the home and bidding to low may cause you to lose the home to another
buyer. If you are in a slow real estate market, where there are more homes
for sale then there are buyers, then you can probably get away with starting
pretty low with your bid. Today's market is in favor with the buyer.
Lastly, We will prepare a letter to go along with your offer explaining
why you are making your offer. Let the seller know of what problems you
can see with the home, items that need to be fixed, appliances that are
worn down, etc…to back up your bid. This may help to open the seller’s
eyes to problems with their home. This letter is extremely useful and beneficial
when a property has been on the market for a long time and/or there are
a lot of deficiencies or problems with the property.
We will always make sure you buy a property at the best value you
can get it for, making sure you do not overpay. We will always make
sure we find and secure the deal and property you are looking for.
There is nothing wrong with bidding low in today’s market.
Buying a property and getting a good price are easy to do, especially
if you put a little time into it and have patience. For more information
on submitting an offer, or to get started with your real estate
needs, Please contact Marc Wizman
Please click here to contact Marc Wizman & Associates
or call (310) 746-8444. Thank you and we look forward to hearing from you!
Back to Buyers Section |
