So, you have found “ The One”!!!!! This part is hugely exciting and chances are, you knew it was the one after only a few minutes of being inside.
Now put your seat belt on as this part can get pretty darn stressful.
You now have a great realtor that is ready to fight for you and write the offer correct?
A few things to know about writing the offer:
It can become highly stressful and emotional so please know this before even getting into the negotiations
Decide on what your absolute “ Top” number is BEFORE you start the negotiations. I cannot stress this enough as it will keep you on track and when the whirlwind of back and forth with the seller begins, you may lose sight of where your limit is. It can also become highly emotional both for the seller and the buyer.
Decide how you will feel if you lose the house to a competing offer. This may seem like a silly thing to think about but I will tell you that sometimes when I ask this question, depending on the house the responses can range from “ I am totally ok with someone else getting the house. There were a lot of components that I didn’t love about it” to the opposite end such as “ I would be absolutely devastated. This is THE ONE!” This changes the advice that I would give a buyer regarding how high to go on their offer etc.
Remember that even after you make an offer and let’s hope it is accepted, you will still have time to negotiate inspection issues (unless you are in a state where the inspection period works differently) In our area, you are also allowed time to renegotiate the price if major inspection issues arise. I will get more into this in another post as there are several ways to negotiate inspection issues.
When you do have an accepted offer, ask your realtor what the next steps are that have to be done in the next 24 hours, 7 days, and two weeks. I am a huge fan of giving my clients a “ Calendar of Contingencies” so that they can see right on paper ( or in an email) what their deadlines are.
As always, I could go on and on with these topics. This is just some of the top tips that I would want any buyer to have in their pocket for this part of the process.
Happy House Hunting !