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Top Real Estate Offer Spoilers
The real estate market is a tough market. There are times when houses favor the seller and times when the market favors the buyer. That doesn't take away from the fact that once you step foot into your dream house, there is nothing that you want more. Making the right offer can make or break a real estate deal. Before placing an offer on your dream home, be sure to know the prime real estate offer spoilers.
Price
When selling a house the bottom line is almost always price. Most of the time, the first thing a seller wants to know about an offer is how much the buyer is willing to pay. This being said, make sure your offer reflects your desire. There is no problem in offering less than the seller is asking, but don't make it offensive. Remember that the real estate your are bidding on is someone's house. If you make a bid that is too low, you could risk offending seller and losing the house forever.
Closing Cost Fees
One thing that tends to turn off a real estate seller is the request for closing costs. Asking for closing costs comes directly from the seller's pocket. This effects their bottom line tremendously. There are two ways to avoid this issue. First of all, you could figure in your bid your closing cost request. For example, if you were going to offer $100K, but ask for $2K at closing, offer $102K and still ask for $2K at closing. This way the real estate seller isn't out any money. The second option is to wait until you have enough money for closing costs before making an offer on a house. If there are two offers on the table, more than likely, the offer that doesn't ask for money at closing will get the house.
Closing Date
Don't make the closing date become an issue. If you truly love a piece of real estate, you can make something work. Ask the seller's realtor what closing date is desirable to them. If this is too early for you, try and delay it slightly. However, delaying more than a couple weeks might cost you the real estate. If the closing date is too late, try renting for a month or two. Wouldn't you rather rent for an extra month that lose your dream house?
Most of the time people think of real estate sellers as offer-hungry. Some potential buyers think they are doing sellers a favor by giving them any bid at all. However, some sellers have many bids in which to choose. I speak from experience. My house was on the market for 2 days. We had 3 offers bidding against each other. In the end, it came down to price, buyer paid closing costs, and a desirable closing date. Don't let your dream real estate slip away by unnecessarily spoiling your offer.
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