Make The Offer You Are Comfortable Making Even If You Suspect It Will Not Succeed


Make The Offer You Are Comfortable Making Even If You Suspect It Will Not Succeed
By Scott Rogers • April 12, 2023
As a would-be buyer in a competitive seller's market you might find yourself thinking that you need to... [1] offer over asking price [2] include an escalation clause [3] waive an inspection contingency [4] waive an appraisal contingency Indeed, for some properties (in some price ranges in some locations) the only way to secure a contract to buy the home of your dreams is to do some or all of the above. But yet, I do encourage you to only make the an offer you are comfortable with... even if you suspect that offer will not succeed. If a hot new listing is priced at $400,000 and that seems like a reasonable price for the house... YES -- it is OK to offer $400,000 without an escalation clause, with an inspection contingency and with an appraisal contingency. Will that offer succeed? Quite possibly not -- especially if there are multiple offers. But... if that is the strongest offer you are comfortable making then that is the offer you should make. It won't necessarily lead to you securing a contract on the house -- but it might -- and if it does, you'll be under contract to buy with contract terms you are comfortable with. Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 24, 2024 (unless otherwise noted).
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