You’ve finally found your dream home and can already see where you will hang all your favourite pictures. You know in your heart that this is the perfect house and you can’t afford to lose this opportunity. Now you just need to submit an offer that simply cannot be rejected or refused...
Below are a few tips to help you submit a bulletproof offer that the seller of your dream home simply cannot turn down:
Budget for your dream offer
Before you submit any offer, you need to work out a budget for yourself. Within this, you should set three targets: the highest offer you can afford to make, your ideal offer, and your low-ball offer. Depending on the market conditions (explained more in the point below), you can reach a decision regarding which of these three numbers will give you the best chance of securing the home on your initial offer.
Tailor your offer to suit the market
A very important factor when it comes to buying a house is knowing what kind of property market you’re in. If you happen to be in a seller’s market, then there won’t be much room for price negotiations, and you’ll have to put your best offer forward if you want to secure your dream home. On the other hand, if it’s a buyer’s market, then you’ll have a little more room to negotiate and you can go in lower with your initial offer.
Get pre-qualified to avoid having your offer rejected
When it comes down to it, apart from price, the offer that presents the lowest possibility for the sale to fall through is usually the one that a seller chooses. To neaten up your offer, make sure you have pre-qualified bond approval. It also helps if you have already sold your property and have the funds readily available. If you need to cash in an investment to purchase, then it might be worth doing so before you find your dream home.
Consult with a real estate professional
When searching for your dream home, your best bet would be to get in touch with a real estate professional. As an expert in the local property market, real estate professionals will be able to guide you into choosing an amount that will be appealing to the seller and will still suit your budget.
