You finally found the Menifee home of your dreams. It’s perfect, and you’re already thinking about where you’re going to put your favorite chair, and your kids are deciding who will get which bedroom. Before you move any further, however, you need to figure out your Menifee home offer. The big Menifee home offer needs to be enough to convince a seller to let you buy their home without giving away too much.
If you need help, here are three ways to write a Menifee home offer that sellers will love.
Before you think about price, sit down with your real estate agent and go over the fine details of the home. The two of you will need to look at recent comps to see what other similar homes in the Menifee area are selling for. Are they going for more than the seller’s asking price? What other features do they have that your preferred home does not? Doing this will help you gauge just how fair the seller’s price really is.
Then it’s time to pull out your finances and take another look at what you have to offer. You may decide to go the cash route or go through a lender with a mortgage. Cash deals can sometimes convince sellers to buy because there aren’t any contingencies with loan approval. If you are taking out a loan but can close within 30 days, make sure you make that known in your offer. Consider having a loan preapproved before you make a Menifee home offer.
Talk over a lowball Menifee home offer with your agent. In some markets and under certain circumstances, a lowball offer may be fair, but if you’re in a market with a lot of competition, then you shouldn’t lowball. Other offers will be on the table so you need to compete with them. You also don’t want to insult the seller. He or she may decide to not sell to you at all.
Back up your Menifee home offer with everything you know about the house and market to show the seller that your price is fair.
For homes that need a little TLC, repairs can get costly. If you would like a few repairs done (new carpets, replacing an old heater), consider asking the seller to pay for closing costs rather than making the repairs.
This is a bit of a gamble. Sellers don’t usually want to do a lot of work, especially if the other offers are competitive. Submit your concessions alongside your Menifee home offer to let sellers see what can be negotiated. This may encourage negotiations.
Buying a home can be an emotional process. You’re buying a place to raise a family and grow old in. Don’t let your heart get in the way of what you need and what you can afford. If a seller is asking just too much for a home, learn to walk away. You don’t want to enter a situation where you’ll have trouble paying the mortgage and other fees with the home.
Remember, you can always find a better home that is a better fit for you. Be reasonable about what you want and need, and don’t lose control of your finances.