With a competitive real estate market, the offer you put in on a home must also be competitive. Low inventory levels and high demand often results in multiple offers being put on a home. A lot of times, offers are being put in not so long after a home is listed if it’s priced fairly. So, if you want to buy a home, how do you put in an offer that is going to get accepted?
Know Your Budget
Before you can make a competitive offer, you need to know how much home you can afford. Once you know that, you will have a better idea of what homes to be looking for. Not sure how to figure that out? A good step would be to reach out to your lender and get pre-approved for a loan, so you have a smoother home buying process.
Offer a Fair Price
It would be nice to buy a home as cheaply as possible. Who wouldn’t want to save as much money as they can when buying a home? The reality is, if you put down an offer that is well below the asking price, the seller will either not take you seriously, be insulted and won’t want to negotiate with you or you will be outbid. You don’t have to offer a ridiculous amount over the asking price but making a strong and fair initial offer when it comes to price will help you in the negotiation process.
When making an offer, price isn’t the only factor. As a matter of fact, some of these other factors may be the little things that get your offer accepted. If you are flexible on your move-in date or have minimal contingencies, your offer may move to the top of the seller’s list of offers.
Trust Your Real Estate Agent
Putting together a competitive offer, especially if you’re a first-time homebuyer, can be a difficult task to handle. Luckily, our First Weber real estate agents are experts and will be able to help you. Whether you have questions or just want some guidance when putting an offer together, they are there to help. Visit our website to find an agent near you.
First Weber sells real estate throughout Wisconsin: Metro Milwaukee and Southeastern WI, South Central Wisconsin/Greater Madison, Central Wisconsin, Northeast Wisconsin, Western WI, parts of MN, Michigan’s UP and Wisconsin’s great Northwoods. You can start searching for Wisconsin real estate and Wisconsin real estate agents at firstweber.com