Atria Real Estate February 22, 2023
Real Estate Tips
Your loan's been approved, you requested the property disclosure and now it's time to write your official offer letter to buy your dream home. In this fourth instalment of Buying Your Dream Home Series, we'll walk you through the writing an offer process.
During the offer writing process, we will work with you to explain all the variables that need to be considered in determining your offer price and contract terms like contingencies and inspections — to make sure you come to the table with a strong, well-thought offer package. It is common in our market to be involved in multiple-bid situations, meaning there are multiple offers by buyers being made on a home. In these cases, your positioning and offer terms might change, knowing there are multiple offers and not just yours.
We will present your offer to the listing agent and the sellers, and we’ll quickly relay any updates or counter-offers to you, so that you can stay engaged in the offer and negotiation process.
Successful negotiation is truly an art form, requiring careful consideration of things like, the personalities involved, our relationships with agents, the true value of the things being negotiated and how important they are to each party. Deals can often fall apart over the smallest, seemingly inconsequential details because the parties involved become attached to “winning” or “coming out on top”. Instead, we value a cooperative negotiation style that looks at how negotiations can lead to a win-win situation for both sides.
The seller has three choices when you submit your offer. They can either accept your offer as it is written, reject the offer, or counter your offer with revised terms, which then you have the option to accept, reject or counter.
The competitiveness of the market often requires making offers on more than one home before successfully closing on the right home for you! Not winning an offer can be disappointing, but we believe it is important to self-reflect on what, if anything, could you have done differently? Your home is out there, waiting for you, it might just take a couple tries to find it.
If you have any more questions about writing the perfect offer, please feel free to contact us today.
You’ve got questions and we can’t wait to answer them.