Making an Offer: Tips for Painless Purchase

Question: Allison, what is the best way to make an offer on a property?

 Answer: The overwhelming number of properties on the market and still-attractive interest rates make now an excellent time for first-time buyers and second-homeowners alike to purchase a mountain home, as well as for existing homeowners to trade up.

Prospective buyers should obtain written mortgage approval from lenders for the amount they will spend on a home, as well as to hire a real estate attorney and a buyers representative who know the local market and are skilled in negotiating. The buyers representative will find answers to questions that could influence the purchase price.

When negotiating, prospective buyers avoid low-balling their first offer; but they should have a good idea of how much room they have to negotiate. They should never reveal how much they are willing to pay and should be prepared for counter-offers.

They should keep in mind that having too many conditions will make them less attractive to the sellers. Prospective buyers should focus on trying to get their dream house at a fair price.

Finally, prospective buyers should never sign a contract for purchase and sale until they have reviewed it thoroughly with their Real Estate Broker, or if they don’t have the time or inclination to review it themselves, they should hire a real estate attorney. 

For answers to your real estate questions, call Allison at 970-468-6800. Email - [email protected]. Allison is a long time local in Summit County. Summit Real Estate – The Simson/Nenninger Team is located at the Dillon Ridge Marketplace. Allison’s long-time residency and years of real estate experience can help you make the most of any buying or selling situation. She’s a Certified Residential Specialist (CRS), the highest designation awarded to a Realtor in the residential sales field.  Her philosophy is simple, whether buying or selling, she understands that the most important real estate transaction is yours.  Want to know the value of your Summit County property? Visit www.SummitHomeValue.com