3 Ways to Write a Buyer’s Offer to Your Advantage

3 Ways to Write a Buyer’s Offer to Your Advantage

A buyer’s market comes into action in the real estate world when there are too many homes on sale but few buyers. You as the buyer have an advantage, as you get to state your demands and most probably, they will be met. Here are a few tricks that will help you clinch the deal in your favor.

1. Visit Homes That Have Been in the Market for Long Periods

As buyers you will always have a tendency to offer less than the asking price. This offer will not take place in homes that have recently put out in the market. You should therefore check out homes that have been in the market for a really long time. The owners of those properties which have been in the market for a long time or have seen a recent reduction in value will be more open to your low offers. You could talk to them and negotiate the deal to your own advantage.

2. Gather Information with Your Real Estate Agent’s Help

Ask your real estate agent to gather up details of prices of homes similar to one you are interested in; which have already been listed under active listing, pending sales and sold. Compare the prices of these properties. Ask your real estate agent to draw up a list of the homes which are available in the market and details about its address, property age, size, number of bedrooms and bathrooms and the value they been set for in the market. Online sources are not regularly updated and you will see that your agent gets you recent updates, which will help you make deals better.

3. Ask for a Reduction

Found the perfect home but you don’t like the color of the carpeting? You do not need to worry as you can use this situation to your advantage. If you find your dream home but do not like some fittings or carpeting, you can ask the sellers for some reduction is price. In this fashion you can also negotiate a deal where you can ask for more than what the repair work would cost you, as the “hassle-cost”. The seller will usually will give in to the buyer’s demand as the buyer can cancel a deal in such cases and the new buyers may not be interested in homes with such repair works involved.

These three easy steps will ensure that you shine in a buyer’s market and are in a position to seal a deal in your favor. If you’re still unsure about this, you can have a real estate agent or any friend analyze things for you and tell you their honest opinion.

There are several ways you can keep your costs low as a buyer, especially in today’s real estate market where sellers are higher in number than buyers any day. However, be sure that you do not make a ridiculously low offer that simply turns the seller off and make you pine for your dream home.

1 Comment

  1. one
    Comment by Elaine Salt@Minneapolis Property Management: Oct 10, 2012 at 2:19 AM

    Thank you so much for sharing your thoughts on how to effectively write a swaying buyers offer.

Comments Feed

Sorry, the comment form is closed at this time.