Will You Be Able to Sleep at Night?

by jmaranto

This is the advice that I give to my buyers when they are preparing to write an offer on a home that they love.  Make certain that the offer your write, while taking into considering the market analysis I have given you, will allow you to sleep at night if you do not get the home of your dreams.  Many buyers make the mistake of believing everything they see or read in the news or listening to anecdotal evidence that they hear from family and friends of someone that found the “deal of the century”.  For example, one of my first time home buyers sought the advice of his parents (which I totally support).  However, their advice, went contrary to every piece of market data I presented to this client. So, instead of making a reasonable offer, he offered $40,000 less than market value and was shocked when the seller refused to respond to his offer.  My client ultimately ended up buying the home, but the very fact that he was the one that had to amend his offer rather than receiving a counter offer from the seller put my buyer in a weaker negotiating position for the remainder of the transaction, because my seller now knew that my buyer really wanted this home.

Published on 2015-07-28 10:39:23