Main Line Homes Blog

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What makes an offer succesful

There are many things that make an offer successful, and in this tight Tredyffrin Easttown Resal Estate market with little to no inventory it is important to include as many as possible. So, let's examine a few.

 

Clean

By clean, I don't mean avoid spilling your coffee over the agreement, although it doesn't help. Don't include things that make a seller nervous. If an area doesn't have issues with oil, gas and mineral rights, including an addendum that addresses those can make a seller nervous as they don't understand why it is included. Avoid needing to have a home for sale or settlement contingency. If you can leave a contingency out do so, the easier it is for the seller to decide the quicker you will be successful. I am not suggesting waiving all inspections but there may be cases where you are comfortable to do so. Another option is to reassure the seller your inspections are only for major items by specifying that you will only ask for items above a certain dollar value.

Make sure you know what the seller wants

Hopefully your agent has addressed this with the listing agent. If they want a quick settlement, including a six month settlement is not going to work. If your mortgage provider, if you have one says he can do a 30 day settlement go with it even if 45 or 60 days is the norm. Give the seller as much as you can that they want. Likewise, if they want to stay in the house through to the end of the school year and you are in no rush, accommodate them with a longer settlement period.

Listen to your agent

This weekend I had a client lose a home because he did not listen to my suggestion. He knew he was in a competing offer situation but although the house had only been on the market a few days he insisted on making a low offer with an escalation clause. The other offer was for full price. The listing agent advised the seller to go with the other offer as the difference was negligible in relation to the price of the house because they felt the buyer had listened to his agent and would continue to listen. Another client this weekend was listening and we were succesful over two other competing offers.

Don't be a bully

Demanding a response within hours of presentation may seem smart, but it can backfire. If your offer becomes invalid due to your time constraint and the agent cannot reach his seller to present you may miss out, be reasonable.

What is your agents relationship like with the listing agent

They don't have to be real close. We all like to think everyone loves us or at least likes us. But, sometimes your agent has a reputation and other agents prefer to work with someone else. Try to make sure the agent you are working with plays well with others, is respected as being tough but fair and is known to be honest and fair in their dealings. We all carry a reputation. 

I want you to be successful. My advice is for your own good. We do this day in and day out. You may think you are a good negotiator but we have probably done this more often than you and we know what will work and what won't. We want you to see the sold sign on the Tredyffrin Easttown or Main Line property you want and for you to be the buyer. 

If you are buying or selling on or around Tredyffrin Easttown or along the Main Line we can help you,  contact us or connect

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