5 Tips for Making Your Best Offer on a Home

Reblogger
Real Estate Broker/Owner with 1 Month Realty 49855-090

What is a Seller's Market?

A "Seller's Market" is when there are more home buyers in a particular area looking to purchase a home than actual houses listed for sale. 

A "Seller's Market" usually includes rising home prices and stronger competition among home buyers. Also, home sellers may have the upper hand when it comes time for negotiation. However, even if the competition is fierce, rest assured that you can still buy a home.

Buying a home can be difficult, especially when buying in a "Seller's Market".  

Check out these recommended tips for Making Your Best Offer on a Home ... and to stand out from the competition to help you win and purchase your next home.

If you are thinking of buying a house in SE Wisconsin (Kenosha, Racine, Walworth or Milwaukee counties) call Diana Dahlberg of 1 Month Realty (established 1994) to get started. Just call or text me (262) 308-3563 or visit my Website

Original content by Charles Stallions

5 Tips for Making Your Best Offer on a Home

5 Tips for Making Your Best Offer on a Home

As a buyer in a sellers’ market, sometimes it can feel like you’re stuck between a rock and a hard place. When you’re ready to make an offer on a home, remember these five easy tips to help you rise above the competition.

1. Know Your Budget

Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it:

“This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.”

Showing sellers you’re serious can give you a competitive edge, and it helps you act quickly when you’ve found your perfect home.

2. Be Ready To Move Fast

Homes are selling quickly in today’s competitive housing market. According to the Existing Home Sales Report from the National Association of Realtors (NAR):

“Eighty-three percent of homes sold in November 2021 were on the market for less than a month.”

When houses are selling this fast, staying on top of the market and moving quickly are key. Your agent can help you put together and submit your best offer as soon as you find the home you want to buy.

3. Lean on a Real Estate Professional

No matter what the housing market looks like, rely on a trusted real estate advisor. As Freddie Mac also notes:

“The success of your homebuying journey largely depends on the company you keep. . . . Be sure to select experienced, trusted professionals who will help you make informed decisions and avoid any pitfalls.”

Agents are experts in the local real estate market. They have insight into what’s worked for other buyers in your area and what sellers may be looking for in an offer. It may seem simple, but catering to what a seller needs can help your offer stand out.

4. Make a Strong, but Fair Offer

According to the latest Realtors Confidence Index from NAR, 40% of offers today are above the list price. In such a competitive market, emotions and prices can run high. Having an agent to help you submit a strong, yet fair offer is critical in these situations. Your agent can help you understand the market value of the home and recent sales trends in the area.

5. Be a Flexible Negotiator

When putting together an offer, your trusted real estate advisor will help you consider which levers you can pull, including contract contingencies (conditions you set that the seller must meet for the purchase to be finalized). Of course, there are certain contingencies you don’t want to give up. Freddie Mac explains:

“Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”

Bottom Line

We are Ambassadors to all things Pensacola, Pace, or Gulf Breeze, Florida whether a first-time guest or a frequent visitor when you need to know something whether a good place to
eat, who's hiring or your next home do as the locals do call or text Charles Stallions at 850-476-4494 or email charles@charlesstallions.com

Sign up for our Monthly Newsletter about what’s happening here on the gulf and homes for sale.

 

 

 follow me on facebook  pensacola property search

Charles Stallions is your complete source for all Pensacola FL real estate and local events and information. 

Charles Stallions
Broker

Office Phone: 850-478-8811
Office Fax: 850-332-6838
Email: charles@charlesstallions.com
View Listings

Comments (11)

Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Great points Diana. It is also always good, if a buyers asks their Realtor to find out why the Seller is selling as there may be an indication of what their Seller "hot points" may be in accepting an offer. Examples, longer close cycle or if they have moved to another state and they don't have to clean up yard, leave things in the home or other things such as making a repair yourself or using the seller's escrow company etc. Ask and it can also help.

Aug 27, 2022 11:35 AM
Diana Dahlberg

Thanks Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI you are so right on!  Thank you for sharing these additional points.  Well received. 

Aug 27, 2022 01:53 PM
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Great blog Diana!!! Thanks for sharing!!!

Agents are experts in the local real estate market. They have insight into what’s worked for other buyers in your area and what sellers may be looking for in an offer. It may seem simple, but catering to what a seller needs can help your offer stand out.

Aug 27, 2022 12:22 PM
Diana Dahlberg

Totally agree with you ...Thank you for your comments Sham Reddy CRS 

Aug 27, 2022 02:53 PM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Great information.  Thanks for sharing and enjoy your weekend!

Aug 27, 2022 12:59 PM
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Thanks!

Happy Saturday Bill Salvatore 

Aug 27, 2022 02:57 PM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Diana and thanks you for sharing this great information with us here in the Rain.  Great blog.  Make it a great day!

Aug 27, 2022 03:29 PM
Diana Dahlberg

Always appreciate your responses to my posts Will Hamm 

Aug 29, 2022 04:20 PM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope you have a great day.

Aug 28, 2022 02:28 AM
Diana Dahlberg

Thanks Richard Weeks ... felt it was a good reshare!

Aug 29, 2022 04:21 PM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Diana Dahlberg these are very valuable list of tips for making best offer on a home.

Aug 29, 2022 02:48 PM
Diana Dahlberg

We can't get too much information -- especially at a time like today! Thanks John Pusa 

Aug 29, 2022 04:22 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Diana, hope buyers and sellers are reading you sage advice, here in my market we have shifted to a buyer's market in many of the zip codes...there are still a few sellers zip codes, Endre

Aug 31, 2022 12:39 PM
Diana Dahlberg

Endre Barath, Jr. that's because you are California.  Everything starts there right? We are starting to feel the effects just not as strong ... it's just a matter of time.

Aug 31, 2022 02:11 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Diana - good points to follow if you are a buyer.  Buyers can find a home if they are persistent.

Sep 01, 2022 03:57 AM
Diana Dahlberg

Yes indeed!  We all need to be persistent, especially today.  Thanks Grant Schneider 

Sep 01, 2022 02:33 PM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much for sharing this excellent reblog selection.

Enjoy the holiday and have an outstanding week.

Sep 05, 2022 04:02 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Diana, it is nice to receive offers on a new listing, and now if they are fairly close to list is good too!

Oct 07, 2022 01:56 PM
Diana Dahlberg

Every day of the week is a good day to receive an offer Joan Cox 

Oct 08, 2022 11:13 AM