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Writing and Negotiating an Offer

You have found the perfect home. The next step is making an offer. What should that offer be? Many times, the answer to this question is not so clear. Every house is unique and there are many factors to consider prior to just throwing something out to the seller and hoping for the best. This is where the knowledge and experience of your Realtor can really help.

Many factors should be considered upon writing the initial offer. The first thing you should consider is the comparable properties that have sold in the past 6 to 12 months. Try to think like an appraiser, since that is typically what we are trying to get the seller to do in the first place. Look at time on the market, condition when compared to similar properties, lot location within the community, and possible seller motivations. Though most buyers want to think there is a motivating factor for the seller that will help them in their negotiations, our experience has been that this is just not the case in most transactions. Once you have come to a conclusion as to where you think value is on the property, then you have to decide if you can reach that goal or, if at all possible, get it for less. 

Determine your Strategy
Prior to making the offer, you will need to determine how you would prefer to negotiate.  If your first offer is accepted by the seller, you will inevitably think you offered too much.  The typical objective is to begin the conversation. Hopefully, this means offering low enough to not insult anyone, but still low enough that you can find out where the seller might be willing to go.  This strategy won't work if you get involved in a "bidding war." In this situation you will typically have to bring your highest and best offer, then hope you can get the price at your comfort level range without losing the home over a few hundred or thousand dollars.

Some Motivational Pointers
This is what seems to make many buyers salivate!  What is it that makes this seller "tick" and need to get the home sold? As I mentioned previously, there isn't typically one sure thing, but here are a few things that are pretty obvious.  Is the home vacant and have the sellers purchased another home already?  Finding out the existing mortgage amount from the public records can many times give you an idea of what the seller is paying on their monthly mortgage.  This can help if you can close quickly, thereby saving them those monthly holding expenses.

Another way is to look around the home while you are there. Are the closets empty, do they have personal pictures around that might give indicators of a family situation where motivation might be involved? 

Writing and Negotiating an Offer cont. --->>

Latest listings in Augusta Road

3 Beds 2 Baths
AMAZING RENOVATION! This charming, one-story Augusta Road home with a 2-car attached garage, has been completely remodeled with high-end designer finishes. Nestled on a flat lot with an inviting, covered front porch, 10 Waters Avenue features 3 bedrooms and 2 full baths, and an open floor plan offering easy flow throughout the home. This lovely home features a spacious living room with real, site-finished hardwood floors, wood-burning masonry fireplace, and a large picture window with electronic shades letting in lots of natural light. Adjacent to the living room is a cozy dining room that leads into a gourmet kitchen. The gourmet kitchen features hardwood floors, quartz countertops throughout, a breakfast bar area with quartz countertops, subway tile backsplash, a mix of white cabinetry and wooden open shelving, white ceramic farm sink, large pantry cabinet, stainless steel appliances, and designer plumbing and lighting fixtures. Located off of the kitchen is a laundry/mud room with ceramic tile floors and lots of storage space, as well as access to the 2-car attached garage and the large, wooden deck and partially-fenced backyard with gated entrance. The luxurious master-on-main suite features hardwood floors, three large windows, electronic window shades, two walk-in closets and an ensuite bath with quartz vanity and shower with subway tile walls and black, penny tile floors and wall niche. The home also features two additional bedrooms that share a hall bath with marble vanity, ceramic tile floors, and tub/shower combination with subway tile wall surround. One of the bedrooms is currently being used as an office and it also has an access door to the back deck and backyard. Conveniently located in the Augusta Road area near downtown Greenville, Prisma Health, I-85 and I-35. Zoned for award winning schools Blythe Academy, Hughes Middle and Greenville High. This amazing move-in-ready home won’t last long!

10 Waters Avenue, Greenville

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