When you make an offer on a home, there are a lot of variables. We will guide you – PUT DOWN THE GOOGLE! The biggest factors are whether there are or will be any competing offers. If there are, the strategy changes.
Competitive Bidding Situation
If you are going to compete with other offers, you need to think about exactly how much the home is worth to you. Keep that top line in mind and we’ll help keep you from getting swept up in the auction mentality.
We will make an initial offer that will likely be somewhere close to the asking price. Sometimes we may discuss increasing the value of your offer by dropping contingencies — something that only happens in very rare circumstances. Typicaly, we’ll be asked to come back with our best and final offer, and that’s when you’ll need to keep that top line in mind. Though it’s stressful, we’re successful with most of our competitive offers and we’ll be in constant communication during the process.
Non-competitive Bidding Situation
The majority of the homes in Lincoln, Concord, Weston, Wayland and Sudbury do not require competing with other offers. Especially outside of the peak spring market, you’ll make an offer below asking on a home that has not accepted (or even received) any other offers. The other side will counter-offer. Then you’ll have the opportunity to negotiate. Sometimes you can renegotiate after you’ve had inspections.
Nuts and Bolts
You’ll fill out a standard offer form (blank-offer-form-w-addendum) and the addendum with contingencies.
We present that form and addendum along with your $1,000 “earnest money deposit” to the seller’s agent.
When the seller signs it, it’s accepted, so sometimes you’ll make changes and initial the changes before it’s accepted.