Making an Offer on a Home

By: Mark Lukwinski

Making an Offer on a Home

Tags: Offer, For Sale, Sold, Mortgage

As your real estate representative, I spend most of my time communicating. It is my role to guide you through the process as seemingly as possible, listening to your needs and using my expertise of the market.
 
When you’ve found a house you want to make a home, it comes time to make an offer and this is where emotions really come into play. To ensure we put forward a fair price, here are some things I will analyze extensively with you:
 
Length of time on the market: If a home has been on the market for a longer period of time, this could be indicative of the price to sell being set too high. It gives us ground room to offer a little lower to bring the Seller down a bit, as they will also be wanting to sell (finally). Other factors in the market could be affecting the length of time on the market, but unfairly priced home becomes something we dive into to analyze.
 
Competition for the Home: By the time we are looking at making offers, you already have pre-approval from your lender so that we know you are serious about a home. If the home in question has many eyes looking at it, we may have to roll up our sleeves to make offers that remain competitive since many will be doing the same thing. There would be a lot of back and forth between myself, you, and the representatives for other Buyers. An escalation clause may also be invoked which allows you to automatically increase your offer to a pre-determined amount only in the event that you get outbid.
 
Current Market conditions: Are we in a Seller’s market or a Buyer’s market? A Buyer’s market allows you to haggle prices in your favor. A Seller’s market means to be appealing for consideration, you will have to make an offer at least at the selling price. Are there a lot of similar homes for sale at the moment? What are they being offered at, what are they selling at? What does your particular home offer as features and amenities that others don’t? Will the home require lots of work to bring it to a certain standard? So many things to consider, and it’s my job to inform you of this all!
 
 
Coming in with Offer prices is an exciting part of the process, I enjoy rolling up my sleeves to not only get you the home you’re craving, but get it for you at a fair price. Let’s talk!
 
Mark