Making The Offer
Hey, everybody, Jon Sump here with The Home Brokerage, again. With our home buying process, step-by-step tips for you in this home buying process. So, this part of the process, you've already met with your realtor, you've met with a lender, you're pre-approved. You've already looked at homes. The next step is writing the offer. And just to give you a few tips and tricks on writing the offer, today.
What you've really got to look at when you're writing the offer is, depending on what you're buying, if you're buying a single family home, which is what we'll do today, when you're buying a home, you don't want to go in there and write an offer so low that it's going to upset the seller. Because it'll just shut down all communication. When you're writing an offer, and especially if you're needing to get a seller credit, where the seller actually pays for some of your closing costs, you've got to keep that in mind. Because if you go with a low offer and a seller credit, that means that offer is even lower by the percentage of the credit, which could be, in some cases, quite a bit of money.
You want to make sure you write the offer of what is fair for the home, but at the same time, getting you the best you can get. You go in there with a super low-ball offer, in 99% of the time, never going to work, and it's going to piss everybody off. So, write the offer at a place that is a little bit lower than the asking, unless there's a lot of offers on it. If there's offers on the table, you want to write the offer as high as you are comfortable with, period. If it's a fast moving market, you've got to write them as high as you're comfortable with. Even if you go over the asking price. In some markets that we just are coming out right now, we had to write a lot of offers over the asking price, especially if you're asking for seller credit. But if you're not asking for seller credit, you still don't want to go in with a super low-ball offer.
Now, if the house has been on the market for a long period of time, I mean, six months, a year, something like that, then yes, by all means, write a lower offer. But if it's new to the market, within 30 to 60 days or less, you don't want to go in with a super low-ball offer. Most of the time, you don't want to go more than like two to 3% lower. Much more than that, really offensive to most home sellers.
When you're writing that offer, keep things in mind. It's never going to work unless it's a win-win for everybody, for you and the seller. See? Keep that in mind. When you go in, also, if you're going to be asking for a lot of things to be done, you don't want to ask for a lower price, and everything to be done, and all this stuff. It's never going to come together. It's going to be a big hassle of a transaction. So just keep these things in mind. Think about fairness to both sides. That's how we write offers here, and we get all of our offers through. Keep that in mind next time you're getting ready to write that offer.
Thanks. Hopefully, this has been helpful, and if it has, please like and share it. You don't know who's looking to buy a house today. And, as always, check out our YouTube channel, and make it a great day.