Crafting Your Money Bid – How to Make an Offer on Your Dream House

So, you finally found your dream house. Are you ready to make a bid on it? Wait a minute… whatever you are imagining; it won’t probably go that way in reality. Sounds a bit dramatic but putting an offer on a Sandy Springs home for sale is not that easy!

To help you make an offer that the seller’s agent will not be able to refuse, we have come up with 8 steps that you need to follow, in order to make the said bid successful:

Step #1

Know Your Limits

First things first, what’s your budget? Whatever, you are planning to buy and include in your house must fall under your budget. Say, you would love to have a garden in the front yard but are you aware of the gardening costs? Can you pay them monthly for the up keep or are you planning to do all the work by yourself? Evaluate such things and make sure the costs fall under your future plans.

Step #2

Set Your Price

A secret tip to setting your price limit is to make sure it is well under your budget. By that we mean, leave a little margin for wiggle room. This will help you further down the process when the seller comes back with a counteroffer.

Step #3

Bring Out the Savings for the Down Payment

An ideal down payment that guarantees the lender will be open to your loan amount is 20%. In some cases, this amount might be 10% but if you cough up this kind of money, then you won’t have any trouble with private mortgage insurance.

Step #4

Make the Deposit

Want to show the seller that you are serious about buying his Sandy Springs home for sale? Then make that down payment! This deposit tells the seller that he doesn’t need to look for another buyer because you are going to buy the house. In case you back out of the deal, you forfeit this deposit to the seller.

Step #5

Go Over the Contingencies Once Again

Contingences are your safe zone where you can back out of the deal, if the seller has lied on a report. Say, the home inspection report said that the house only had a few repairs. However, after you get a home inspection of your own, you find out that there are some major issues in the foundation. If you feel the repairs are not that big of a problem, then you can request the seller to pay for them.

Step #6

Read the Contract Carefully

If you and the seller came to some agreement during the meeting then make sure those points are written in the contract.

Step #7

Settle Quick

The contract usually has a settlement date by which you have to close deal. Failure to do so will result in a penalty on your part.

Step #8

Write a Heart-Felt Email to the Seller

One last advice: If you really want to convince the seller on your counter offer then write him a letter. Write about your feelings when you first saw the house and how important it is to you and your family. Spin a tale that will convince him you are not just the right buyer but the right person to sell the house to.

One of the key secrets to convince the seller on your counterbid is to never send a lowball offer. They might see it as disrespect and reject your offer altogether.

Want to find out the prices of other Sandy Springs home for sale in the area? Visit America’s Network Reality Group Inc. and get an accurate evaluation from experts before making an offer.

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