Once you have found your dream home in Alpharetta, the work is just beginning. One of the first steps you must complete is providing a competitive offer. You want to place an offer that stands out and provides a “wow” factor. If there are multiple offers on the property, you want your offer to rise to the top of the pile.
To help you place a competitive offer on your dream house, here are a few things to consider.
Be Mindful of Your Contingencies
Contingencies are conditions that if not met, allow the buyer to walk away from the deal. There are all types of contingencies you may include in your offer. These contingencies may involve the home inspection, obtaining proper financing, the negotiation process, if you need to sell another property, etc.
While contingencies can help the buyer, for sellers, it is simply a list of reasons the sale could fall through. If you want to place a competitive offer, be mindful of the contingencies you list and try to avoid listing too many of them.
Know the Current Market
One of the most important aspects of the offer is the amount of money you are willing to pay for the home. If the property is properly priced, you do not want to provide a low offer or make an offer that is too high, causing issues once the appraisal is complete.
To help you place a competitive offer, you must know the current market. You should be aware of whether it is a buyer’s or a seller’s market. You should also be aware of whether the asking price of the home is realistic or if there is plenty of wiggle room in the price. To help you with this process, work with an experienced and knowledgeable real estate agent like a team member at AlpharettaZen.
Be Prepared With Your Earnest Money
Earnest money is essentially a deposit that shows the sellers that you are serious about purchasing the property. The more money you provide, the more competitive the offer may appear as you will have more to lose if you walk away from the deal.
Additionally, the more money you provide as earnest money shows sellers that you are financially stable and there are likely fewer problems that will arise when obtaining the necessary financing to purchase the home.
Paying Extra Fees
In a competitive market, you want to impress the sellers. You want to eliminate the stress they may be feeling. One way to accomplish this is by requesting to pay extra fees such as the closing costs on the transaction. Typically, buyers will pay 2% to 5% of the home’s purchase price in closing costs and sellers will pay 6% to 10% of the home’s purchase price in closing costs and commissions. By taking care of some of these fees, it will make the transaction more appealing for the sellers.
If you want to place a competitive offer on your dream house in Alpharetta, your greatest resource is an experienced, knowledgeable, and trained real estate agent. Contact us at AlpharettaZen and let us show you how we can help you throughout the entire buying process.