Here are some things to consider when negotiating offers with sellers.
- How motivated is the seller? Since the seller has put their home on the market, they are interested in selling. However, some sellers have to sell faster than others. So, understanding the sellers needs is essential before writing the offer.
- Be realistic in your offer. You do not want to low ball the seller. It may insult them. There are times you can offer less than the asking price but consult your real estate broker.
- Be ready to move on. It is not uncommon in today’s market, that you don’t get the first home you offer on. But, it is also not uncommon for you to find another home quickly that you like even more.
- Include a letter with your offer telling the seller about what you love about the home and why.
- Set an quick expiration date and time. Due to the likeliness of the seller receiving other offers, give the seller a short time to review your offer (24 hours).