How To Make Offer For The House You Want To Buy
Thinking of buying a house through a buyers agent? After you find a perfect house you would want to buy it immediately. So how do you make the best offer to the seller?
Before making the offer, meet with the exclusive buyer agent, since he will play a key role in this transaction. Do not let know the agent you love the property too much, since they might increase the price of it. Closely observe the market, check similar areas and compare the prices of the two. Check how quickly they are being sold.
How Can I Put an Offer to buy house?
Tell the buyer’s agent, if you are interested in a properly. Put your offer forward in written form, follow it up by email or call so that there is no confusion. If seller shows interest, then start to negotiate with him. Remember, the agent will be working on their behalf. If you are worried about the agent, appoint an exclusive buyer agent for you.
- A low bid is more likely to be successful, if the house has been on sale for a long time, meaning not a lot of people are interested in buying it
- If seller is selling it quickly, means there is something in the house he may be trying to get rid off
- If you show serious interest, the seller will trust you and hope you are not wasting his time
- If the buyer’s agent is agreeing to negotiate on terms
Best Tactics to Bid Effectively
In open negotiations;
- Start with low price, 5-10% lower than the demand
- Agents will give you a chance to negotiate
- Only offer more, If the seller has other good offers
- Do not be desperate or irritating, stay polite and calm
- Stay realistic with the offer
- Try to negotiate directly with the seller
In Sealed Bid;
- This type of bidding means you will have to write down your offer and give to the buyer
- Since there are no direct negotiations, sellers will get more price than asked
- It can be stressful if you go out of your budget or bid more than the price asked, so make sure you have enough money before placing your bid
- Since there is no stress from agents or seller, buyer is more relaxed as well
After the offer has been accepted by the seller, make sure you have the contract to make it official, take help from your exclusive buyer. If your offer is low, the seller might even pull out after the deal is done, which is a huge loss for the buyer in paying fees. You can only put a higher bid to avoid it. After the offer is accepted, make it legal and ask seller to put it off sale so no other buyer may contact him and no double crossing occurs from his end.