Sub­mit the of­fer that the seller sim­ply can’t refuse

George Herald - Private Property - - Property News -

Re­jec­tion is the sin­gle hu­man ex­pe­ri­ence that links us all - whether it was a job in­ter­view, a prom date, or a home loan re­quest, we've all faced it at least once in our lives. To give you the best chance of avoid­ing this dur­ing the fi­nal stages of your house hunt­ing ex­pe­ri­ence, re­gional di­rec­tor and CEO of RE/MAX of South­ern Africa, Adrian Goslett, shares his in­sights into how to sub­mit an of­fer that the seller sim­ply can­not refuse …

Three-tier ap­proach

“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 and the var­i­ous other fac­tors dis­cussed be­low, you can reach a de­ci­sion re­gard­ing which of these three num­bers you would like to put for­ward as your ini­tial of­fer.”

Clean up your con­di­tions

“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 a seller goes for. 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 in or­der to pur­chase, it might be worth do­ing so be­fore you find your dream home.”

Know your mar­ket

"Buy­ers should also keep them­selves abreast of cur­rent af­fairs and be aware of the kind of prop­erty mar­ket in which they cur­rently find them­selves. If they hap­pen to be in a seller's mar­ket, there will not be much room for price ne­go­ti­a­tions and buy­ers will have to put their best of­fer for­ward if they want to se­cure the prop­erty. On the other hand, if it's a buyer's mar­ket, buy­ers have a lit­tle more room in which to ne­go­ti­ate and can go in lower with their ini­tial of­fers.”

In­volve an agent

“Your best bet would be to in­volve your agent in your de­ci­sion-mak­ing process.

“As in­dus­try and sub­urb ex­perts, they will be able to guide you into choos­ing an amount that will be ap­peal­ing to the seller and will still suit your bud­get.”

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