Making an Offer
Before you dive into creating your offer to purchase, there's a crucial step you should never skip: getting pre-qualified or even better, pre-approved by a lender. Being pre-approved is one of the best negotiation tools available to buyers. It tells the seller you're financially ready to purchase their home.
That out of the way, once you've found your dream home, it's time to roll up your sleeves and get that offer ready.
First, you need to know that the seller is legally obligated to disclose any major issues with the property. But sometimes, those disclosures don't tell the entire story. So, here are six simple questions to add to your checklist for some extra insight before you seal the deal:
Why's the seller saying goodbye? This little nugget can reveal a lot about the property's true worth. Is there something about the house that didn't suit the seller? If so, you might have room to tweak your offer in your favor.
What's the seller's price history? Knowing what the seller bought the home for can be gold. It might help you in your negotiation game or even score some financial assistance. But don't forget, the price tag isn't just about the past—it's shaped by today's market and any upgrades the seller made.
What does the seller love and dislike about the property? This one's interesting. By asking the seller about their likes and dislikes, you could stumble upon some surprising info. Sometimes, what the seller loves might not align with what you're after. Like, if they rave about the 'bustling neighborhood,' but you're after peace and quiet – that's a good hint that it might not be right for you after all.
Any house hiccups in the past? It's always smart to ask if the seller has dealt with any home hiccups. Maybe there was a pesky bathroom leak. Even if it's been patched up, you'd want to make sure it's in tip-top shape now.
Neighborhood nuances? This one's for the scoop on neighborhood, noise, and other quirks. Do they have a noisy neighbor, a barking dog, or a nearby airport that sounds like it's in your backyard? And watch out for any future community changes – like road expansions – that could sway your decision.
What about the schools? The quality of the local schools can make or break a community. So, ask around to get the inside scoop on what folks think. It's another puzzle piece in the big picture.
Having all this knowledge at your fingertips doesn't just help you decide if it's 'the one,' but it also guides you in making that perfect offer. But...
- You might not know that there are different types of offers and additions that you can submit.
If this is your first time hearing about offer variations, the best next step is to talk them over with your Story Real Estate Guide. They can fill you in on which offer types to use in each different situation to get the best deal possible.