Searching for the perfect home to buy can be stressful and overwhelming, however when you find the right one it can be a joyous occasion. Once you find a home that you love and want to buy, you will need to submit an offer to the seller. If you're serious about purchasing a home that you have found, it is essential to submit a good offer. This is especially important if you're buying a home during a sellers' market when the inventory of homes for sale is low and the number of buyers is high. Use the following tips to help you make an offer on a home that you love:
Consult Your Real Estate Agent
When it comes to putting in an offer on a home that you love, your best bet is to consult your real estate agent for advice. During the home buying process, your real estate agent will be a very valuable resource. Before you submit an offer on a home, talk with your real estate agent to get a better idea of how much to offer. A good real estate agent will be able to do research to learn more about how much comparable homes in the neighborhood have sold for, so you can rest assured that your offer is competitive and in line with current market conditions.
Hold Back on Asking for Too Many Concessions
If you want your offer to stand out to the sellers, it is in your best interest to avoid asking for too many concessions. A seller may be happy when he or she receives your initial offer based on the price that you're willing to pay, but if you have a list of concessions, such as asking for all closing costs to be paid by the seller, or having multiple repairs made, the seller may just toss your offer.
Consider Writing a Letter
In a competitive real estate market, sellers may receive multiple offers on their home. If you really love a house and want it to be your family's next home, including a letter with your offer may be helpful and make you stand apart from other potential buyers. When including letter with your offer, make sure that you highlight what you love about the house and how much you would love to live there. Most sellers want their home to be bought by someone who will love the house as much as they have, so a heartfelt letter can make a difference.