Making an Offer
Click here to see a step-by-step outline of the purchase process
As investors, Tammy and Brian have been on the buying side of a transaction multiple times. We understand the pressure and anxiety that accompanies any offer. We use our personal experience as well as our experience negotiating as Realtors, for buyers, to manage the offer process to our buyers benefit. Making an good offer depends in large part on the type of buyer you are. Are you the type of buyer who is willing to make several offers before finally getting an acceptance or are you the type of buyer who has found the "perfect" house. We work closely with you to write an offer that is designed to meet your goals and taylored to fit your buying style.
Price is often the biggest issue on buyer and sellers minds in a transaction. Many buyers feel they have no idea how much to offer on a property. From our perspective, there are a number of factors that go into determining the correct offer price. Let's take a look at those factors...
Comparable Properties
Tammy and Brian can create a market analysis comparing both recent sold properties and also other current active listings in order to get a pretty good idea what the market price should be for a property. This market price is a good starting point for determining an offer price (the two are not always the same). In todays market, with prices fluxuating rapidly, other active listings can often be the best indicator of market price.
Purchase Time-Frame
Are you at a point in your current rental where you need to move in the next 30 days? Are you in a comfortable setting that allows you the time to make some offers that don't end in acceptance? These are important questions in determining an offer price. The shorter your time-frame, the more likely we will be to recommend you make a stronger offer.
Your Tolerance for Lose
We work with a variety of types of buyers. Some buyers quickly grow attached to a home and are not interested in making multiple offers before gaining acceptance. Other buyers begin the process expecting to make multiple offers. Your perspective on this issue is an important part of determining an appropriate initial offer price. We factor your tolerance for losing out on a property into our suggestion of an initial offer price
Uniquness of the Property
It doesn't happen everyday but it can happen that you find a property that offers something so unique that you simply would not be able to find a reasonable replacement if this property gets away. Maybe you've found a property with a specific home layout or a pond or other unique property feature. This type of uniqueness could also affect our suggested offer price.
Sellers Situation
On some occasions, we are able to uncover a significant fact about the sellers situation that could affect our offer price. For example, we may learn that the seller is being transferred and will need to move in the next month. This can affect their need to sell and therefore would affect our offer price.
Other Offers
If you've found a fantastic property, priced right and ready to go, there may be other buyers looking at the house. When we make an offer, the selling Realtor is obligated to inform us if they have received another offer. We will likely not learn the price of the other offer but we will certainly factor this competition into our offer price.