Back to the Basics: Buyers Checklist – Presenting the Offer

Back to the Basics: Buyers Checklist - Presenting the Offer
by John Occhi, Hemet CA REALTOR
Mission Grove Realty 

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The "Back to the Basics" series of article is my attempt at reeducating myself as I look back to the information that I have forgotten over the years of real estate.  The last several articles have dealt with representing a buyer and what goes into an offer to purchase a Hemet CA home.

We looked at .what was necessary to prepare an offer and then we looked at the many different elements of the offer itself.  Then so the REALTOR® can sit down at the negotiating table with confidence, we discussed the importance of knowing just how far the buyer is willing to move in the process when we explored what is actually negotiable.

So now that we know what goes into the offer and how much wiggle room we actually have, we have to make sure that our offer is the one the Hemet home seller will accept.

There are several steps to Presenting the Best Offer

•1)                  When we prepared our offer, we conducted a thorough market analysis (CMA) to determine the value we perceive the Hemet, CA home we want to buy is actually worth.  We have made all of the adjustments and have a number in mind that is substantiated by our offer.  Now we need to be prepared to discuss the CMA with the seller and their agent.

•2)                  Market conditions were another important element of determining our offer price - now we need to be prepared to discuss the current trends and condition of the market with the sellers and their agent.  Our assessment has to be clear and concise so that there is no dispute as to the current condition of the market and how it affects the sale of the sellers Hemet home.

•3)                  Communicate with the Sellers Agent - It is a pet peeve of mine to receive an offer on a property that I did not even know had been shown.  I get an offer from an agent and never even speak with the other agent.  I have my own questions as a seller's agent that I want to take into consideration when presenting the offer.  As a buyer's agent, I definitely want to invest the necessary time to talking with the seller's agent to get a feel for what is required to close this deal.  Given the opportunity, I'll sit down over a glass of ice tea to discuss the property and the potential for an offer.  I want the other agent to sell me on the property and not negotiate with me.  It is so much easier to get information when there is only a slight interest.

•4)                  What is Included - Again, we know what we have in our offer, but now we are going to negotiate with the buyer for the items we want to stay with the home.  Remember, just because we ask for something does not mean we will get it.  Not only are we concerned with fixtures and furnishings but we need to negotiate what the seller is willing to pay for in the terms of repairs and closing cost contributions.  The more I can learn about the seller and their position on these issues, the better armed I will be when I sit down at the negotiating table to represent my buyers.

•5)                  Paperwork - Get it in order and do it neat and complete.  Don't miss any of your client's initials or signatures.  Don't leave boxes unchecked that you meant to check.  I always use the computer generated WinForms documents which consistently generates clean crisp documents that are easy to read and easy to transmit as a PDF to lenders, appraisers', escrow and others who are in the need to know circle.  Clean organized paperwork gives the REALTOR® a perception of being professional, efficient and organized.

•6)                  Present the offer - Unfortunately it is not always possible, but if it is I always want to personally present the offer to the seller and their agent.  It is my right to do so and I do not take kindly to a seller's agent screening their client from me.  I can not rely on the other agent representing my client in the best light possible...especially if they have a competing offer of their own.  If I am getting paid to represent a Hemet CA home buyer then let me do my job and represent my Hemet home buyer if they want to buy the home you have for sale in Hemet.

If you have been with me and read the other three articles on the offer to purchase, you will see that as a REALTOR® I have great professional pride in the responsibilities that I assume for my Hemet home buyer clients.  I work hard to make sure that my clients are paying a fair price for a home that they love and I will work just as hard to get the offer accepted and the escrow closed with as few issues as possible.

Please make sure you check back often for more articles on Back to the Basics to hone your real estate skills and knowledge.  Although this series of article is geared towards other Real Estate professional (except those in Hemet - please don't read this) it is published for the public to read it.  My thought is that if the public can see what we do, they can hold us accountable and select a REALTOR® based on our skill set and services we provide and not how much cleavage we show on a billboard.

So, Until Next Time,

Have a Blessed Day,

by John Occhi, Hemet REALTOR®  
Mission Grove Realty  

All Content Copyright Protected © 2007 - John Occhi, Hemet CA REALTOR®