How One Couple Found a Home and Made an Offer Part (2)Posted by at December 30, 2011 in Home
They decided that their offer would be $26,900 under the list price, which was a considerable reduction, but considering these statistics they felt it was worth a try. Another factor influencing their offer was that when Andrea called the listing agent, she found out the seller’s new home would be finished in about six weeks.
Obviously, the sellers were feeling some pressure to get the house sold. Russ and Linda decided to write an offer for $330,000, the maximum loan amount they could qualify for. Andrea then called the listing agent and set up an appointment to present the offer to him and the sellers that evening. Note that when Andrea called the listing agent to set up the appointment she didn’t disclose either their offer or the terms of the offer.
She did this to prevent the listing office from calling other buyers they might be working with to try to use the incoming offer to motivate any fence-sitters into making an offer. As it turned out, no competing offers were forthcoming and the buyers were able to get their offer accepted.
Their preapproval letter and short closing date convinced the sellers that they should not pass up this offer, especially with their new home nearing completion. That the owners talked with their builder a few moments before Andrea arrived to present the offer probably increased the pressure on them a notch or two to accept a lower offer than they may have taken otherwise.
Ask your agent to present your offer to the sellers in person, if possible. A skillful agent can present your offer in its best light and, when necessary, negotiate an acceptable counter. Your agent, who is getting paid to represent you, can’t do that effectively by faxing or e-mailing it to the listing agent and letting him or her handle the task.