The real estate market in most states is highly competitive. We recently had a client bid $20,000 OVER THE APPRAISED VALUE and they still were not the winning bid. Offers need to be flawlessly clean so they can be considered the "Winning Bid"! Joy
But I Want A Fence Included in my Home Offer Price
Out of a buyer's mouth come the words one fears in a competitive home bid offer situation. True it may be a buyers market in most of
RI real estate area but that does depend on the home's price point and condition. My last 3 homes sold have all ended up being bid up over asking price due to condition, price point and location. But I want a fence included in my offer price on this house, said the buyer! Well honestly it may kill your offer from even being looked at here.
What makes the home offer price important in a competitive bid situation? Well you have too many competitor buyers bidding against you. All wanting the same property. So making your offer price for your dream home the best you can is the ultimate goal. Do you want the house or do you want that fence that is not now in the yard but could be?
When in a competitive bid offer situation limit your demands of the seller. That is the most important take away for home buyers. If this home is all you want at the right price, condition and location make it happen. DO NOT add on all sorts of contingencies to the offer (add heat to garage, include refrigerator with ice maker in offer, add deck off back door, etc.). Remember you are dealing with competing bids and you want yours to shine through.
Yes, put that fence aside for now unless in your mind it is a deal killer. Get a vendor estimate on how much the fence will cost you and start planning on saving for it. Is it the house or the fence you want? It all comes down to that point. Listen to your real estate agent and let them guide you well in all competitive bid situations...But I Want A Fence Included in my Home Offer Price.
Ginny Lacey Gorman is a waterfront Rhode Island Real Estate Agent who works and knows the RI geographic area of homes for sale, schools, happenings and important tidbits of information well. Negotiating home offers is one of my real estate strengths.Coastal, water view, ocean front, luxury and waterfront Rhode Island real estate are my specialty. If your considering Buying, Selling or Relocating to Rhode Island and need a real estate Professional it would be my pleasure to help you! When you are in need of an internet savvy RI realtor® who sells homes in this real estate market, call Ginny today at 401.529.7849.
This blog © and its contents is original to Ginny Lacey Gorman
Ginny L. Gorman a purveyor of Fine Waterfront RI Real Estate
Specializing in waterfront, ocean front, vacation, coastal and luxury homes for sale in North Kingstown, South Kingstown, Narragansett, Jamestown, Charlestown, East Greenwich, Exeter, West Greenwich, Westerly RI and beyond ... I sell dreams! because there is no place like home...the RI Realtor in the Sparkly Red Shoes.
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cell: 401.529.7849 office: 401.884.4100 ext.268 Ginny Lacey Gorman, Realtor