What’s the best way to present an offer? Let’s discuss this crucial question.
After you’ve found the perfect home, what’s the best way to present an offer?
The first thing to consider is the price. If the list price is appropriate from the get-go, then some of the work has already been done for you.
A lot of people want to submit offers below what the seller is asking, but proceeding this way doesn’t give you any leverage as a buyer. If the home is priced at $400,000, why not appease the seller and offer $395,000? Many other buyers will be making offers around $380,000 and $385,000, so submitting an offer that comes close to what the seller wants will make you stand out. Coming in strong is key—even if you eventually negotiate a higher price as the result of a bidding war.
Once you’ve submitted an offer with a competitive price and made a substantial earnest money deposit, ask the seller to cover closing costs. This isn’t necessary, but they may agree to handle this expense given the strength of your offer. Make sure, though, that your offer comes with an expiration date. You want the seller to realize that you won’t wait around forever.
In addition to asking for the seller to pay the closing costs, you may also choose to ask for some personal property, like the refrigerator. People tend to assume that appliances like this come with the home, but this isn’t always the case. If the home was shown with patio furniture, you could ask for that to be included as well. Sellers will occasionally be willing to part with large furniture items.
Finally, don’t forget about home warranties. Many sellers will be willing to pay for a one-year home warranty policy to give their buyer peace of mind about proceeding with the purchase.
The items we’ve covered are just a few of the things you can and should ask for when presenting an offer. Your price, terms, and conditions must be attractive to the seller, but they should also help you secure a great deal.
So if you have any other questions, would like more information, or are curious how we can help you succeed with your real estate goals, feel free to give us a call or send us an email. We look forward to hearing from you soon.