It is wonderful to have a list of needs and wishes when hunting for a house.
- But what if the wish list cannot be satisfied in the price range that is available to you?
- What if there of plenty of homes that satisfy your needs and wants, but you feel you must get a killer deal on price?
If you are unwilling or unable to compromise, you will find yourself making low offers on houses. Often, very low offers. You will also find that you will most likely be busy getting your offers rejected, while other buyers will be closing on their new home and getting on with their lives.
Most sellers will not come down substantially from their current list price. Even banks who have their bank-owned foreclosures listed usually do not come down much from their current list price. If the house does not sell, and they lower their price, then all your other competing buyers are also alerted and you will probably be outbid if you insist on getting your killer deal.
After losing out on one or two dream houses, you will be faced with the critical question; Do you want to buy a house or just make offers? If you want to continue to make offer after offer on houses, will your Realtor continue to spend hundreds of hours showing you dozens of houses, writing up offers, negotiating back and forth with the listing agent, and ultimately have nothing to show for it?
Your options are:
- Stay where you are.
- Compromise and buy a house now that satisfies as many of your needs as possible. Build up to your next-level house and move again in the future.
- Keep making offers on houses. You may get lucky and be at the right place at the right time. Make sure to schedule a lot of time away from your regularly scheduled life so you can tour a multitude of houses, make and negotiate offers.
In any case, always work with a Real Estate Agent in Louisville KY who understands the market and will be a loyal advisor. If your house hunting is not yielding the results you seek, listen to your Realtor with an open mind. We are here to help. We have dealt with thousands of home buying situations. Lean on us - we are here for you.
