Step 6 Making an Offer
You think you have found the one!! You call me and say, let’s make an offer! I will preface this with, we may write several offers, but you always end up with the home meant for you. Now, what do we do?
First and foremost, let’s get prepared by knowing the common things buyers ask for in the negotiation process. As well as what the condition of the market is. Know your options when making an offer and consider what you may want to ask of the seller.
Here are the top things asked for in negotiation…
- 37% Reduction in Price
- 30% Pay a portion of the buyer’s closing costs
- 28% Purchase a one year home warranty
- 25% No concession or incentives
- 12% leave appliances or furniture
- 10% Provide repair allowance
- 9% consent to set a closing date
There are so many items to check off the list when making an offer that we will be discussing. How much do you want to offer the seller for their home? When do you want to close? How long will the lender need to get our loan in order? Now, some of these will be answered best by the market that we are in, but most will be hammered out during the negotiations. There is typically give and take during the offer process.
You will want to text/call/email me every 5 minutes but be patient and know that I am always on top of getting you the answer you want – Offer accepted! The typical amount of time that it takes for the seller to respond to our offer is between 24 and 48 hours.
Join me next week as I share step 7 where we talk about opening up Escrow! Did you miss step 5? Catch it here!