Buying a house. How to make your offer attractive.
by Bill McNally and Lia McNally
Halton Hills real estate agents.
After looking at many homes, you’ve finally found “the one.” Before you sign the offer and have it presented to the sellers there are a few things that you should know to better your chances of it being accepted.
The market conditions- If there are more buyers than homes on the market, it what is called a seller’s market and consequently you’ll have to make sure your offer is attractive. Alternately, if the pool of houses for sale exceeds buyers, you’ll be in the midst of a buyer’s market. This means that you will possess more bargaining power.
The home’s approximate value based on comparing it to similar homes in the area- This will help to establish an idea of how much to offer for the house. Many buyers try to start with an extremely low offer. Unless the house is ludicrously over priced, in which case you may be dealing with an unreasonable seller, or unless it’s been sitting on the market for ages, we try to discourage this practice. Quite often sellers will be insulted and become angry. That’s not exactly the way you want them feeling towards you during negotiations! It’s best to start off with a reasonable offer. Try to put yourself in the seller’s shoes and think about how you would feel if someone offered you $40,000 less than your house is worth.
Have your agent dig around a little. A good agent will call the seller’s agent to see what things are deal breakers. Perhaps the seller has a closing date that is absolutely necessary. If you can meet him on his terms your offer will be stronger and more attractive. It’s not all about the money!
Conditions. The less conditions you attach to your offer the better. Agents call these “clean offers.” Conditions allow the buyer a chance to back out of the transaction so the less that are included, the more serious the buyer seems. Of course we wouldn’t recommend foregoing a home inspection condition on a century home. Every situation is unique and your agent will be able to help you identify weaknesses in your offer.
Pick a great agent and have him or her personally present your offer to the sellers. A good agent will tell the seller about you and portray you as the ideal person to do business with. Don’t underestimate this step. If two identical offers are presented you can bet they’ll pick the buyer they like more, even if they’ve never met you.
If you have any questions about buying or selling your home in Halton Hills, please contact Bill & Lia McNally, local sales representative from Johnson Associates. They have a solid track record of satisfied clients, sales awards and are among the top sales representatives at Johnson Associates. The key to their success has been their first rate service, ability to negotiate seemingly impossible transaction and the referrals that have resulted. Call them at 905-877-5165, email at b_mcnally@sympatico.ca, or visit their website at www.willsell.ca. They are never too busy for your call and you will never be pressured into anything!
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