"There are deals to be had" one of my clients commented to me today as we were discussing the local market and a particular property that he was considering.  I agreed, but we then both remarked that many of them are hidden opportunities.

With many more sellers in the market then buyers, there are certainly some sellers who are getting fed up with waiting around to see when their house will sell.  They either really want to or really need to sell NOW!  Some of them, however, haven't yet adjusted their asking price to communicate that to the outside world.

How do we discover these hidden opportunities, you might ask?  Unfortunately, many of them can only be discovered by making an offer to purchase the property.  Does it need to be a written offer, with all of the details spelled out?  Yes -- to truly find out how much of an opportunity might exist with a given property you are much better off making the offer in writing, with all the details such as price, closing date, financing terms, inspection contingency, etc.

Now, of course, there are always some opportunities that stare right out at you --- prices on houses that are obviously lower than they should be.  However there are quite a few other houses on the market right now that could be purchased at a price that would likely be very compelling to you --- but we won't know that until and unless you make an offer.

There are only two risks in making a low / low-ish offer to see how much flexibility may exist in the pricing of a house.  First, you may become emotionally attached to the house, and decide you'll pay whatever it takes to get that house of your dreams --- this could be problematic, so let's discuss it if you know you are prone to such inclinations.  Second, you might actually buy the house at a price that you're excited about --- oh wait, that would be the goal!

While there are plenty of houses on the market (maybe most?) where you won't find much negotiating room, there are always some where you'll be pleasantly surprised at how much you can negotiate on price.  Let's find them!
 

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Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com