How Do You Know When You Have Made the Right Offer for a Home?
Decisions, decisions, decisions. All homes have a certain amount of uniqueness, from the location of the home to the light, amenities, condition, and side of the street. If you find a house that is perfect, don't risk it over trying to save a few bucks. It will probably cost you much more to try to turn your second choice into the first choice and the truth is, you will never really get there.
We realtors are hired by our buyers not only to help them find the perfect home but
also to help them buy it at the perfect price and get them through a perfect escrow.
Sometimes we have the luxury of being able to feel our way to the right price.A home comes on the market that is obviously overpriced and we have options:
During this time who knows what could happen. Someone could buy it out from under you.
- We can wait awhile, see it sit on the market, and watch the price drop
- We can make an offer in the range we feel it should be only to have the offer rejected
- Or, of course, we can overpay for the house
So, the "perfect" home comes on the market. One of those homes that is difficult to comp. It seems to be a little overpriced, but not grossly so.
First day on the market. Brokers' open. Lots of people coming through and one set of buyers that come back 3 times while you are there with your client.
A public open is scheduled for three days later.
Your client loves the house. She wants it.
Do you make an offer at full price.
Do you make a lower offer and hope that the seller counters, knowing that another offer could come in any time?
Do you wait and see?
What did we do?
We offered full price and it was accepted. The other buyer made an offer the same day and is in backup position.
In this case I think we made the right decision. Why?
I think if we had gone lower, it would have gone into multiples and we could possibly have ended up offering more than full price, not knowing what the other offer was.
It could have extended over the next open house which would have encouraged more buyers to enter the fray.
So, I don't feel bad that we paid full price. My client loves the house and it is hers to lose.
We offered the right price!
Jane Peters, connecting you to the L.A. real estate scene
Buying or selling real estate in Los Angeles can be an overwhelming process. Contact Jane Peters, Los Angeles realtor specializing in absentee owners, out of town buyers, and those who need that extra attention, in order to make the transaction a smooth, trouble-free, and fun experience.
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