Home Buying in 91354>Question Details

Rodhall, Home Buyer in 75234

On average how many offers will you have to make before you get an offer accepted?

Asked by Rodhall, 75234 Sat Jun 5, 2010

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Maria Cipollone’s answer
If you are lucky enough to work with knowledgeable market buyers, may three or five. Even that I show them and explain the comparables in the area, still have to compete with realtors that they offer a ridiculous price to get the sales contract signed and when the appraisar do his work will adjust the price at the market value.

Best of Luck,

Maria Cipollone

http://www.Flahomespecialist.com
1 vote Thank Flag Link Mon Oct 15, 2012
It really depends on a lot of things, competition, area, financing, price range and the agent representing you. This market is very tough right now but my best advice to you is to be consistent and positive. The market is slowing down right now and the chances of you getting your offer accepted is rising, keep trying and best of luck!
1 vote Thank Flag Link Mon Sep 16, 2013
I love your website btw!
Flag Mon Sep 16, 2013
Rodhall,

There are many things to take into consideration. Location, the seller's motivation for moving, desirability of the home, if you are financing, and the agent that you are working with.

The best way to make sure that you have a strong off is to make sure that your agent has proof of funds ( a copy of a bank statement, 401k report, whatever you will be liquidating to make the down), a pre approval letter from which ever institution will be financing your mortgage, and a complete copy of the Residential Purchase Agreement.

There are many other things that could strengthen your offer depending on the seller's motivation for selling.
0 votes Thank Flag Link Thu Feb 6, 2014
Hi Rodhall,

I would look to a few local agents to 91354 to give you some local numbers.

In general though, it depends on your offering style as well. For an example, one buyer may wish to make "lean" offers after looking at comparable sales data, while another may make strong offers at the top of what the area might support. The second style of offer tends to get results more quickly.

Also, the type of financing you use may give you a better chance at quicker success. If you have an all cash offer, or a large down payment, you may have an increased chance at getting an offer accepted.

Best regards and good luck with your home-buying process,

Arpad
0 votes Thank Flag Link Fri Sep 13, 2013
Hi Rodhall,

Great question!

I know it can be a tedious task in this current market but hang in there. When you find the home that was meant for you it will be yours regardless of how many other offers there are!

I always educate my buyers to write the cleanest offers they possibly can. This will include not asking for closing costs, paying for some of the items the seller normally pays for, (Natural Hazard Disclosure, termite inspection and repair etc...) Often buyers are also removing their appraisal contingency or putting a cap on how much they will pay if the house doesn't appraise.

As you can see there are many ways to make your offer stand out from the rest!

On average I would say and this is just an estimate but 3 to 5 offers sounds right from my experience!

Hope that helps and don't give up your dream!
0 votes Thank Flag Link Fri Sep 13, 2013
For my buyers over the past two years, it has been one because I educate them and show them what the market says. There have been multiple counters on a few of them, and I have had a couple that have made a couple of offers on two different homes. I just think it really depends.
0 votes Thank Flag Link Mon Oct 15, 2012
People usually duck giving a direct answer to this question because of the factors that go into the equation. I'll just say 3 to answer you question directly. The factors that I'm referring to include that many people start looking and never wish to compete for a home and won't buy in the current market. Also some buyers learn the market quickly and trust their Realtor and will do what it takes to buy a home on the first attempt. Most successful buyers will make several offers and perhaps utilize many Realtors before realizing that it is a sellers market and then finally be the savvy buyer that makes a strong offer on a home while others are learning the market. I work in the Santa Clarita Valley which includes Valencia, Stevenson Ranch, Castaic, Saugus, Newhall & Canyon Country. Let me know if you or those you know would like my assistance in this community. Tony Lewis RE/MAX of Valencia 661-702-4720
Web Reference: http://www.TonyLewis.com
0 votes Thank Flag Link Mon Oct 15, 2012
Depends on your offer and determination to get the property. It also depends on how well your agent can represent you to the seller, not by just presenting an offer but by presenting you along with the offer.
An intro letter and a call from your lender directly to sellers agent helps.
0 votes Thank Flag Link Thu Jun 14, 2012
I have had buyers who have their first offer accepted, and others that have written ten offers. If your Realtor has a good local reputation, and the respect of her peers, your odds of an accepted offer will increase. However,
there are other factors, such as: 1. How many homes are on the market and how many buyers are looking?
2. Downpayment. Typically a buyer with a larger down payment will have an edge over a buyer with a lower down payment, such as FHA 3.5% down. 3. Buyers looking for homes that are in "move-in" condition will have more competiton. 4. Homes under $350,000 are more in demand, with more competition.
It is important to have a pre-approval letter from a direct lender, proof of your funds for a downpayment, and a clear strong offer. I always write a cover letter for my clients, which can often help. The key is to NOT give up and be sure you have chosen a Realtor who will keep you updated immediately on new listings. Be as available as possible to come out and look at the home.
0 votes Thank Flag Link Fri Sep 3, 2010
I'm surprised no one said it depends on the Realtor you have hired. If you hire an experienced professional Realtor it shouldn't take many at all. Choosing the right Realtor when purchasing is key. Many Realtors and buyer's don't realize the importance of an agent that not only can write a strong offer but one that is connected with many agency relationships as well.
Most Realtors work for free and you will be purchasing probably one of your largest assets ever. Interview three agents or more if you need to. I'm surprised at how many people just go with the first one they meet. Often because of my Accredited Buyer's Representative designations buyer's seek me out after being dissappointed with their first Realtor. You owe it to yourself to find the agent for the job.
Web Reference: http://rebac.net/
0 votes Thank Flag Link Thu Aug 12, 2010
Mr. Rodhall

That question is tricky. All other answer s are correct It all all depends, on the sellers situation. If seller's in a rush/desperate, there's a faster chance they'll accept the offer, as long as its a reasonable offer.

Good luck, feel free to call if you need assistance.

Merlin Barrientos
Realtor Associate
Keller Williams Realty
cell 661 713-8780
merlin1@inbox.com
dre01761948
0 votes Thank Flag Link Mon Jun 28, 2010
Hi Rodhall,
It depends on the type of properties you are putting offers in on. Inventory is very tight here in Santa Clarita, there is alot of buyer competition going on right now. You need a very strong agent who can guide you through this current real estate market.

-Jennifer Ricco
0 votes Thank Flag Link Tue Jun 8, 2010
This depends on the sellers situation, the strength of your offer (which includes the price offered relative to list price, the finance conditions, the amount of down payment, cash placed in escrow, etc.), the location and number of homes on the market in the immediate area, and how unique the home is.

From a sellers perspective, I have a friend who has been a broker for 40+ years who is fond of saying - "the 1st offer is typically your best offer". That doesn't mean it gets accepted right away, but sellers should be encouraged to engage in negotiations with anyone making a legitimate offer.

How much you can offer below asking price is going to be specific to the home your are offering to purchase. Your agent is going to be your best guide for what a property is worth, and where you might start your offer.
0 votes Thank Flag Link Sat Jun 5, 2010
It really depends on the property, location, condition, pricing, etc. A strong offer is always a good start based on recently sold similar properties in the immediate area.
0 votes Thank Flag Link Sat Jun 5, 2010
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