BEST PRACTICES for Making an Offer on a New Home

Posted by Shane Andersen on Friday, August 18th, 2017 at 11:12am.

 

 

Tips Offers

 

TIPS ON MAKING A HOME OFFER

Sure, it seems easy…just make an offer on that dream home you want, they’’’ accept it, and done; right? “Wait, they didn’t accept our offer? Someone else bought it? I thought we were good to go?”

Well, it’s not that easy. In fact, here are some tips to make sure all of your bases are covered BEFORE you make that offer.

Inform your Real Estate Agent first

That’s their job! They do the work. They will contact the seller’s listing agent to make sure they’re accepting offers, see if there are any other offers on the table, and gather more information.

Then, your agent will confirm your pre-approval, and provide you with a pre-approval letter with your offer.

You should discuss all of your buying options, and strategy to buy. You don’t want to go all-out in the beginning without leaving some negotiating room! If the seller counters your offer, it’s because they want more money or speed up the closing process. Be prepared to meet in the middle.

I offer a free Price Evaluation to help come up with an initial offer price, and I’ll follow through the negotiation strategy.

Be Prepared to Strengthen Your Offer

Make sure you’re working with a local Brookings, Volga, Elkton, Arlington or Estelline lenders like First Bank & Trust, Wells Fargo, Dakotaland Federal Credit Union, Bankfirst and BankStar Financial. For a full list of mortgage banking options in the area, visit the Swiftel Directory online!

Talk About Contingencies

Contingencies are key and must be met for the sale to go through. Review the most common contingencies with your agent – Financing Contingencies, Home inspection contingencies, Sale contingency, Title contingency, and Home Appraisal contingency.

Accepted Offer & Closing

You’re not quite done yet! Both the seller and the buyer need to sign the purchase contract. Now you’re ready to complete the sale, unless a contingency of the sale is not satisfied. Next come the appraisals, inspections, and more paperwork. One last important note- don’t forget about closing costs!*

*Closing costs are fees paid at the closing of a real estate transaction. This point in time called the closing is when the title to the property is conveyed (transferred) to the buyer. Closing costs are incurred by either the buyer or the seller.

Are you and your family new to the area or thinking of moving here? Brookings, Volga, Aurora, and other surrounding areas in South Dakota are perfect places to consider making your permanent residence. Not to mention, when you come home at the end of the day, you’re coming home to your home.

Got questions? I’m here to help! Visit BrookingsHousesForSale.com for more details!

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