PETALUMA CALIFORNIA - PETALUMA Homes and Real Estate For Sale

Article

Let's say you have found the home you always wanted. Everything looks fine except the price. It's just a bit beyond your reach, either because you're lacking in funds or because the home is priced higher than it should be. Either way, you wish to buy for less than the asking price. What should you do to give your offer the best chance for success?

Sellers are always interested in the bottom line, but there are usually other issues that can make a difference. Some items of importance to the seller may be relatively simple for you to accommodate in your offer. Ask questions that will help guide you in creating an offer that addresses the seller's needs. What are the seller's plans for relocating? Will there be a need to occupy the property for a period of time after closing? Have there been recent professional inspections of the property? If so, is there any corrective work that the seller would rather not deal with? Are there any fixtures that the seller wishes to remove, perhaps an antique light fixture? Agents will not only suggest the best questions to ask, but also should be able to communicate the questions so that they are received as constructive.

There are other advantages in having representation when it comes to offers. No matter how winning your personality may be, your agent can usually do a better job of shining the most favorable light on your offer. Reactions to personalities and appearances are highly variable, and it is best to keep those variables out of the equation. Of course, it helps if your agent has a winning personality.

Whether your agent presents the offer face-to-face with the seller or by some other method of delivery, you want the seller to learn some pertinent facts. A good cover letter may serve that purpose by including some personal background, career information, an outline of financial resources, and a history of transaction experience. Buyers are always well advised to have a written credit approval for any needed financing. The aim is to build the seller's confidence in your sincerity, motivation, and capability.

I have met a few practitioners who believe that the best way to get an offer accepted is to make the seller feel insecure about the value. They will explain the rationale for an offer price by pointing out the most unattractive features of a home, from its outdated décor to the pet odors, and compare it to other recently sold homes that were so much nicer. I have never seen this approach work. But I have seen sellers become so insulted that they would rather not sell at any price to the buyer whose agent used this tactic. It is far more effective to let the seller's agent counsel the seller about value. The best advice is to convey only a positive rationale. You are making the offer because you wish to own the home, and it doesn't hurt to elaborate on your reasons for making that decision. The message to the seller is both a compliment and a suggestion that you are just the right buyer for the property.