Getting Your Offer Accepted
The secret to getting your offer accepted on that dream home.
As much as sellers need to make sure they get the best out of selling their houses at the best price, buyers also have the challenge of having to get their offers accepted on their dream homes. With the number of first-time home-buyers growing at a rapid pace, multiple-offer scenarios have become a commonplace in today’s real estate sector.
It may seem impossible to get your dream home when you have to worry about the tension of a bidding war, or worse – your offer not getting accepted at all. However, there is light at the end of the tunnel. There are many who have overcome this obstacle and have come out victorious. We have compiled a list of tips to help you get your offer accepted on your dream home. By following these easy tips, you should have a higher chance of your offer being accepted the first time round!
- Get your funds in order first
Gaining pre-approval on a bond shows the seller that your finances are in order. This provides you with security that your offer might be approved ahead of someone who is still waiting on an answer from their financial institution. This way you will also be selling yourself as a serious buyer.
- Do some research
Research and have knowledge about the prospective neighbourhood. When you do your research on the property prices of homes in the area you will have a crystal understanding of what price homes are selling for in the area, giving you a chance to make an offer based on the market. Usually this will enable the seller to rethink their price and check if their offer is fair and market-related.
- Start with a solid offer
Our property managers will show you various properties that are within the same market related price bracket. This will help you decide on what you feel the property is worth to you. It is up to you to choose if you want to go higher or lower. If this is your dream property, putting in a solid offer will put you at an advantage from the get-go, and there might not even be a need for a bidding war with other potential buyers.
- Counter the counter offer
In a multiple-offer scenario be prepared for a counter offer. There will always be a good chance that a seller will go with another buyer’s offer. You will need to be prepared to either engage in negotiations to up your offer and make a counter-offer yourself or, sadly, possibly just walk away from the deal. Knowing your financial situation, as well as what you feel the property is worth to you, will help you make this decision.
- Most importantly, be patient…
We know that buying a new home can be quite emotional, leaving you eager to know whether your offer has been accepted or not. Our property managers are on-hand to answer any queries or appease jitters you may have, and will keep you posted with updates as-it-happens.
At PropertyFox, because we work closely with both the seller and the potential buyers, our teams work hard to ensure that the properties are priced at fair market-related values, and ensure that our potential buyers are well informed of the market related prices. Typically, because of this, we are able to match buyers to properties much quicker.