9 Tips To Help Your Mason Ohio Home Purchase Offer Succeed

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Real Estate Agent with RE/MAX Elite 513.520.5305 www.LizTour.com SAL.2002007747

Offer time9 Tips To Help Your Mason Ohio Home Purchase Offer Succeed

You've found THE ONE.  That Mason home that you want to call HOME for the next chapter of your life.  What's next?  What can you do to improve the chances of your offer being accepted?

  • Don't delay writing the offer.  When I'm working with buyers, I've got access to a contract.  We can fill it out ASAP.  But thinking about it overnight opens the door for other offers to appear and complicate your chances, or even worse, for another offer to be ACCEPTED while you're still thinking about it.
  • Be preapproved!  Don't START your financial approval process AFTER you find the perfect home.  Two (or more) offers similar in terms, one with a preapproval letter and one not, which one do you think the seller likes?  And ideally, be preapproved by someone known to area agents. 
  • Your loan type matters.  Cash trumps financing.  And for financing, Conventional beats FHA, VA & USDA in the seller's eyes because there's more chance for complication or repair demands.
  • What's important to the seller? Of course price is typically king, but closing and occupancy dates might be really important too!  We'll give the listing agent a call when we're writing an offer.  Assuming they answer the phone immediately, we can inquire if there are other offers (or expected...take with a grain of salt), or if there are critical terms to the seller.  If possible, use that information to structure the purchase offer.
  • Remember what you're buying.  We're negotiating the sale of a home, NOT a yard sale.  We've received offers asking for everything in the garage, items of personal furniture and more.  Couple that with a low offer price and you're just begging for trouble.
  • Be serious with your offer price.  Do you REALLY want this home?  Then start with a fair offer and don't go straight for the steal.  And if you're competing for a REALLY hot property, list price may not be enough.  Fortunately for Cincinnati area home buyers above list is NOT the norm, but it does sometimes apply. 
  • If you're going to ask for closing cost assistance, increase your offer accordingly.  Sellers are concerned about their NET PRICE.  Don't offer $190,000 for a $200,000 home AND ask for $5k in closing cost assistance as part of the offer.  That's NOT a $190,000 offer, that's a $185,000 offer as far as the seller is concerned.
  • Keep it simple.  The more you complicate the offer with contingencies, the tougher it's going to be to get accepted.  Still have to sell your home?  Asking for something special?   Demanding a room be painted?  The more that stands between you and having the deal done, the more likely the seller is to decline and wait for a "clean" offer. 
  • Earnest Money.  While technically not required, it's the local custom.  Make your check significant enough to show the seller you're serious.  A little skin in the game so they know you're not just going to walk away from the deal without any loss.

There's more to the offer than just filling out the contract, knowing what to ask for and what not is one of the perks of having an experienced buyer's agent guiding you.  And knowing how to negotiate after that initial offer is another perk.

So are you ready to home shop?  Call Bill at 513-520-5305.

Serving Warren County area home buyers and sellers,

Liz and Bill aka BLiz

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Serving Warren County Ohio & Adjacent Areas

 

The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747

William (Bill) Spear, CRS, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

Search Homes:  Https://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

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Ohio Warren County Mason
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Advice for Buyers
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Tags:
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Rainmaker
1,286,171
Jon Kolsky
Kolsky Realty & Management - Long Beach, CA
Licensed California Real Estate Broker

Team Bliz~ you do it again Another great set of tips for would-be buyers in your town!

Jun 26, 2014 12:17 AM #1
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John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Good morning Bill and Liz.  You have provided nine great tips for any home buyer in any area to heed.  Hope you have a great day in and out of real estate.

Jun 26, 2014 12:48 AM #2
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Jon, Thanks!  We try our best to help!

John, A lot of how my day feels hinges on that USA-Germany soccer match!

Jun 26, 2014 12:51 AM #3
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Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

BLiz: If buyers follow your advice they greatly improve their chances of purchasing a home in Mason Ohio and anywhere around the country. Excellent list.

Jun 26, 2014 07:34 AM #4
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Anita, Thanks!  We've personally seen most of these tips violated by either buyers offering to our sellers, or our buyers running counter to our best advice.

Jun 26, 2014 11:07 AM #5
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Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

Very well put, Bliz.  Lowballing an offer especially can be distressful to a seller and may harm you further if there a multiple offers!

Jun 26, 2014 10:30 PM #6
Rainmaker
289,437
Ellie Penaranda
239.776.5077 Downing-Frye Realty - Naples, FL
Naples Florida Real Estate - Waterfront & Beach Co

Bliz, great tips for buyers who are serious about making it happen.  They should listen to their agent's advice on how to negotiate - after all we do this on a daily basis and they do it once every couple of years, if so.  Have a great weekend.

Jun 27, 2014 02:15 AM #7
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Suzanne, While we always recommend our sellers counter a low offer, not all will.  And if in multiple offers, a seller is definitely going to want to go with the more reasonable offers.

Ellie, We do it often, and we do learn from past experiences to make the present ones even smoother.

Jun 27, 2014 04:52 AM #8
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Wanda Kubat-Nerdin - Wanda Can!
Prado Real Estate South - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Bliz, Great advice to Mason, Ohio home buyers! Those who are serious and listen to their agents net better results!

Jun 27, 2014 11:50 AM #9
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Wanda, We've had many transactions to learn all the best advice for our buyers.

Jun 27, 2014 12:17 PM #10
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Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Our market is red hot right now. Home prices are going up everyday. Agents are concerned about offers that are written above asking price requesting closing assistance. If they don't appraise (and some of them aren't), then the seller is in for a lower price and paying closing costs. A full price offer here without closing assistance is more welcomed than one over asking price requesting assistance. 

Jun 29, 2014 03:49 AM #11
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Tammie, With a market like that your buyers just have to come at it strong or not play at all.  And if the appraisers aren't keeping up with the market, asking for closing costs is trouble.

Jun 29, 2014 12:38 PM #12
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