Purchasing a home in today’s Buyers Market
Monday, August 14th, 2006Gone are the days of the sellers “wish list” but it still pays to have a nice cover letter with your offer. Sellers are the last to know the market has changed but after weeks or months without an offer, motivation sets in.
Realtors often hear sellers ask; if the price is too high why don’t someone just come in with a lower offer? They are right! When looking at homes you should look at homes above the price range you want to spend. When you find that special home, make an offer based on what you feel the home is worth. If the seller is realistic, you may just have a deal.
This does not mean we run around making low-ball offers but if the price seems too high based upon others you have seen, or seller motivation, it makes sense to ignore the asking price.
When purchasing a home there are two negotiating times; when writing the offer and when reviewing disclosures and inspections. If you learn something during the inspection period it is time to get credit for unexpected future expenses. What about the “as is” offer? There really is no such thing; all we are saying is we will buy the home “as is” but if we learn the home needs more work than expected the seller should expect to give some cash credit to the buyers.
Inventory is at a several year high so don’t worry if you can’t make a deal on the first home you like, chances are they will be another you love too.
