Make an offer, not a suggestion to purchase
It is sometimes difficult for buyers to really put themselves out there and write a contract on a home. They want to know, before hand, it is going to work out.
This is a really good post about why it is so important to get your offer in writing.
As I always say, once you put it in writing, you can have a conversation about it. Before that, it is just theoretical.
When you are ready to purchase a house in the greater New Milford CT area, we will be making an offer, not a suggestion that maybe you might be interested in purchasing a home.
Scenario #1
You see a house you like and you want to buy it. You ask me to call the agent and find out a few things.
- why are they selling?
- what price are the willing to take?
And if those questions come back with the answers you are looking for, perhaps you will just throw out a verbal offer and that will be that.
That just won't work. I might be able to find out why they are selling through other channels. If the listing agent is worth their salt they will not be talking all over town about financial difficulties or divorce, or anything else. And they certainly won't be telling me what their clients bottom line is!
I will be pouring through records that are available to me to see if the current owners are in any type of situation that is on public records. Next I will be doing a buyers market analysis to give you an idea who what I think the house is worth in today's market.
But without the proper type of offer to purchase, the listing agent will be telling me to come back with a real offer, not a suggestion that perhaps my buyer might want to buy the house.
Scenario #2
You see a house you like and want to buy it. The house is listed for $300,000 but you want to try and get it for $200,000. You want me to call the agent and throw that number out to them, nothing in writing, no deposit check to back up your offer, no proof of funds, no mortgage pre approval.
I can guarantee that the listing agent, when they stop laughing (or swearing), will tell me to come back with the following:
- put it in writing
- prove that you are capable of purchasing the house
- put your money where your mouth is and put down a deposit, binder, whatever you prefer to call it
Scenario #3
This is how it should go, if indeed you are serious about purchasing the house. Even if your offer is low, presenting a complete offer to purchase like this shows intent on your part and will hopefully open a dialog of communication between buyer and seller.
You see a house you like and want to buy it. I provide you with all information I can gather on the house, including any foreclosure status, a buyers market analysis of the home, etc. We get together and write up an offer to purchase on a form called "Purchase Agreement". With your offer I will include:
- your mortgage pre approval or proof of funds
- a copy of your deposit check
- all signed disclosures
When I present your offer to purchase to the listing agent it will be a true offer, not a suggestion that perhaps, just maybe, you might like to buy this home.
Suggesting you want to buy the house is like a seller suggesting perhaps maybe they might want to sell. No one takes either scenario seriously.
It is indeed a buyers market, however this doesn't mean if you are driving the buyer bus you should ignore the rules of the road and try to mow over every seller out there! If you want to purchase the house, make an offer! Don't try to pretend that you are not really interested, but maybe you might do them a favor and take it off their hands.
If you want to buy it, make an offer, not a suggestion!Selling Litchfield County one home at a time...
Living in and selling Litchfield County Real Estate!
Prudential Connecticut Realty Cell: 203.460.1775 Office: 860.355.2646 x19© Andrea Swiedler, 2009 - 2011
Always do right. This will gratify some people and astonish the rest. - Mark Twain
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