Increasing the Odds of Getting an Accepted Real Estate Offer

After finding a property that best fits your concept of an ideal home, you will encounter the process of making an offer. Making a real estate offer can actually be one of the most challenging tasks in the home buying process. Your offer could make or break the entire deal, when working with your REALTOR® you should put forth a lot of effort when thinking of making an offer that a seller will agree to.

If you want to know how to increase the odds of getting your offer accepted, you should work closely with your real estate agent. Below I discuss some ingenious ways to make your seller feel adequately compensated once your REALTOR® places that irresistible offer.

A buyers market is not a guarantee.

The common misconception about home buying is that a buyers market makes sellers more inclined to accept lowball offers. Actually, the buyers market is not a guarantee that you could get a new house for a very low price. Since the competition among homebuyers becomes very stiff, more homebuyers can think of larger offers and snatch your dream house away from you. If you do not want this to happen, you should just come up with a reasonable offer that is close to the actual market value of your prospective house.

Know what the seller wants.

Like other stages of the home buying process, a little researching would also assist you in this stage. Ask your real estate agent what they know about your seller. Why are they selling the home? How long has their property been on the market? Are they taking their time on selling the home, or are they in a hurry to sell the property? Is there a divorce, an illness, a death, company relocation, perhaps they need a larger or smaller home? Do they already own another home? Once you answer all these questions, it will be easier for you to determine what the seller wants and make it a win-win for both of you.

Come up with a realistic offer.

Another important stage in brainstorming an offer is to keep your expectations close to reality. Never expect to succeed in acquiring a property if you keep on making lowball offers. The only way to get the keys to your dream home is to come up with a realistic offer that would benefit you and the seller. By working closely with your real estate agent, and looking at the neighborhood comparables you should be able to determine a fair market price.

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