Buying a home in Greenwood Village CO - Let's write an offer!

Buying a home in Greenwood Village CO - Let's write an offer

Buying a home in Greenwood Village CO. Now you have been looking at houses. Maybe a few, maybe a few more. You walked into one house, it spoke to you, and you want it. What happens now? It's time to write an offer.

This is part 4 of 7 part series about Buying a home in Greenwood Village Colorado

Prior to writing an offer
We once more look at the pricing of the home including sold comparables. We look at other stats too: how long has the house been on the market, what is the motivation of the seller etc. We call the listing agent for additional information and disclosures (if they were not available otherwise). Doing all this puts you in the best possible position when negotiating the purchase.

A Few Pointers
1. Sometimes, as a buyer, it is easy to get stuck with a certain number in your head. A number that you do not want to go over. You might have arbitrarily picked the number or found it online, from the county records etc. We have seen this number cause many buyers to lose out on the house they wanted, even if it was for only a couple of hundred dollars.

2. A previous sales price, how much the seller owes, the county assessed value or how much money you lost on the sale of your house do NOT determine the sales price of the home!

3. Once the offer is submitted it frequently happens that another offer comes in. It's just one of those things. If your offer was off quite a lot from the asking price and seller receives another offer, the seller might not even consider your offer.

4. Offering much lower than asking price - especially if the house is priced well - may result in a higher price from the seller. Meaning. e.g. You want to put an offer in on a house with an asking price of $349,000. You want to offer $275,000. If the seller chooses to counter at all the counter may come back at full price - because they are offended, or maybe they shave off $5000. Maybe during the negotiations the seller would come down a little more - say total of $10,000.
Or, say your offer was for $319,000. The seller might have countered with $339,000 and with some negotiating the price would have been settled around $330,000. This is just an example of a common situation that can happen - however, each situation is different. 

5. Buying (or selling) a home is very emotional, for sellers and for buyers, and each have their own reasons. If one thinks the other (buyer-seller) is offending the other, it often backfires later on. e.g. the seller feels they have been beaten up on the price, so now they feel that when it comes down to inspection and any potential items that need to be fixed, they will not fix them. Or if the buyer feels the seller didn't budge at all or not enough on the price they feel they will have to get everything and more fixed from the inspection. Very emotional - yes, it can be. But it doesn't have to be.

6. Especially in some price ranges it is almost given that there will be more than one offer along with yours - a multiple offer situation - we call it. If you really, really want the home it is not time to play around, rather submit the best and highest offer you can. The seller will often request that anyway when more than one offer comes in at the same time.

7. Do you need to sell your house before you can buy this one? What if you submit an offer that is contingent - meaning - I can only buy this house if.... some criteria is met? It depends on many factors again. Many sellers do not want to take the risk and take their house off the market while waiting for the contingency to be cleared - which may or may not happen. Especially in an area where houses are selling, like in Greenwood Village.


There are many things to take into consideration when writing and submitting an offer. We write offers practically daily, are experienced and have no emotional attachment. We can offer you our expertise in helping you through this part and the entire journey of buying a home in Greenwood Village.


This is Part 4 of 7 part series of buying a home in Greenwood Village. Below you will find links to the two previous parts.

Coming soon Part 5 - Dissecting the offer.

Part 1 - Buyer's Checklist / Wishlist
Part 2 - Buying with cash or getting a loan?
Part 3 - Ready, Set, Go - Looking at Homes


Brian Burke

Kenna Real Estate
303.995.4220 Office ext 701
Homes@kennarealestate.com

Kenna Real Estate Website Multiple Search Tools to find your new home!

Disclaimer: Kenna Real Estate does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Copyright 2009.© Kenna Real Estate. Rita Burke. All Rights Reserved. Aug 20th 2009. "Buying a home in Greenwood Village CO - Let's write an offer! "