Making an Offer on a Home in Lake Hartwell

Congratulations! You’ve found the right house for you and your family at gorgeous Lake Hartwell. Now it’s time to make an offer on it. I’m going to help you make an acceptable offer that provides you the best possible terms and price. At all times, I am representing your best interests and will protect your investment. To accomplish this, I’ll make sure you have the ability to back out if you find that something is wrong with the home or you can’t get financed.

How do I know how much to offer?
It’s very important to make a realistic offer on the home of your choice. Consider these three factors when deciding how much to offer the seller:

  1. the asking price
  2. what you can afford
  3. the prices for comparable homes in the area

How did the sellers come up with their price?
The seller’s asking price is really only a rough estimate of what the seller wants to receive. Most likely they have requested a Comparative Market Analysis (CMA) to get a good idea of what similar homes are selling for in their area. Remember, this is only a guide and typically the price is not “set in stone.” I can help you come up with a realistic offer and negotiate other conditions you may want to include.

Know what you can afford
How much you can afford to pay for the home depends on how much your lender is willing to loan you. To make this decision, they take several factors into consideration to determine how much you can borrow. These factors include your credit history, your debt-to-income ratio, your credit worthiness, etc.

Know the market
Is the current real estate market hot or cold? Knowing this will work in your favor because you will know if you need to offer a little more than the asking price (in a hot market) or a little less (in a cold market). I am an expert on the local real estate market and will provide that information to you.

Find out why they are selling
I will help you find out why the owners are selling their home. You may be able to use this information to your advantage. If it’s been on the market for quite a while, they might be more motivated to sell at a reduced price. If they’re relocating, they might be willing to take less to get it sold quickly.

Let me help you develop a bidding strategy
If you find that other prospective buyers are interested in the same house, developing a bidding strategy could make you a winner. To start, set a limit on how much you’re willing to overbid on a home. You could also write a letter to the seller to accompany your offer telling them about you and your family and explaining how much you want the home and your plans for it. This might provide enough incentive for the owners to accept your offer over any others.

Adding contingencies to your offer

You may want to add contingencies to your offer such as qualifying for financing, or based on ...
 
 
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