Metoland, Home Owner in Hellertown, PA

Should you make your best offer your first offer?

Asked by Metoland, Hellertown, PA Thu Jan 12, 2012

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15
Mary Lynne L…, Agent, Blue Bell, PA
Tue Oct 28, 2014
It depends on the house, how long it has been on the market, does it fit all your needs? Every home and the bidding process is different. You will know when you have found the right home. If it is new to the market, give it your final and best and write a note with offer to show how much you love the home. If the home has been sitting for a little while, ok to go in lower, research the comps and see what the sellers paid for the house. They may need a certain number to clear. Again, every house and every offer is different. It has to be a win-win for all parties!
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Andie Brown…, Agent, Upper Arlington, OH
Thu Jul 10, 2014
In a lot of areas right now, it simply isn't the time to be trying to save a thousand here or there if you truly want a home. Inventory is low, so not a time to waste time playing around. Trust your agent to know your specific market. They will know best.
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Perry Shacke…, Agent, Ambler, PA
Thu Jul 10, 2014
It all depends. In today's market a well priced, attractive property will sell quickly. If you really like it, don't mess around. Give a full price offer or possibly 1-2 thousand over the asking price. At today's low interest rates that will only cost you $5 - $10 dollars more a month and you will have guaranteed that you will be the winner in a potential multiple offer scenario. On the other hand...if the property is tired and has been on the market for too long, you may try to put in a lower offer and see if you can get yourself a deal.
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Sharon Sapp, Agent, Reading, PA
Sun Apr 1, 2012
There are so many things that play into what you offer for a property. I've had buyers that have lost out on multiple homes they really liked because they didn't offer enough and could have gone higher. It's best to ask your buyer's agent for his/her opinion, then go from there.
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Mickey Rober…, Home Buyer, West, TX
Sun Apr 1, 2012
I once lost a house that I really liked by offering $ 6,000.00 less than asking price... So if you really like it don't play games.... If you really like it.
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Marc White, Agent, Charlotte, NC
Thu Jan 12, 2012
In my opinion, there are really too many variables to make a blanket statement for or against a first offer/best offer scenario.
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Jim McCowan, Agent, Arlington, VA
Thu Jan 12, 2012
If you can see yourself living in the house and being happy then why play games?
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Anne Rubin, Agent, Elkins Park, PA
Thu Jan 12, 2012
That is such a good question. In the type of market we are in it is typical that a buyer and seller spend some time negotiating and a buyer doesn't usually go in with their best offer up front. There are exceptions with that and you would look to the agent that is representing you for guidance. There is more information needed in order to determine if your best offer should be your first. Are there other offers coming in? Is it a short sale? Etc. I welcome a direct email or phone call if you would like to discuss this in more detail. Good luck.
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Jeff Coros, Agent, Naperville, IL
Thu Jan 12, 2012
Good answers below. This is where experience and depth of knowledge as to the particular situation is critical. A great asset experience offers is the ability to foresee the potential questions before they come up. Does you agent have previous experience with the agent on the other side. How well your agent positions your offer based on information can make all the difference.
Web Reference:  http://www.jeffcoros.com
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R. Eric Axel…, Agent, Sewell, NJ
Thu Jan 12, 2012
There are multiple schools of thought on this topic. If you don't already have a Realtor representing your interests, you really should. I for example have extensive experience as a tough-as-nails negotiator.

Would you operate on yourself without a doctor? Sue someone without a lawyer?

Contact me if you want to discuss strategy further.

Eric Axelson, Associate Broker
Kurfiss Sotheby's International Realty
856.617.1212 mobile
axelson@kurfiss.com
Web Reference:  http://kurfiss.com
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Christopher…, Agent, Tarrytown, NY
Thu Jan 12, 2012
This depends on the situation, if there is alot of competition and bidding then you will have to be agressive and strong. if you don't want to deal with going back and forth with negotiations then the answer is yes. Feel out the sellers situation and motivation and then you can plan your strategy.

Chris
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Sharon Sapp, Agent, Reading, PA
Thu Jan 12, 2012
In real estate, there are not many hard and fast rules when it comes to what to offer. Even in this market, there have been multiple offers. Have your agent do a bit of research. Is the property already priced below market value? Are there multiple offers? Are the sellers really motivated? How long has it been on the market? Based on these answers, you and your agent can work out a strategy to offer the least amount you can and still either get the offer accepted right away, or enough of an offer to get a counter offer from the seller.
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Annette Law…, Agent, Palm Harbor, FL
Thu Jan 12, 2012
If you are buying a 'pretty' home, in a highly desired community and you know others will love this home also, the reality is you may only get one shot at it or end up in a multiple offer situation. Some well maintained, foreclosed homes at below market value prices are also 'one shot' homes.

If it is a stinky, ugly house you intend to rehabilitate, you need to get it for the lowest conceivable price. You should submit a purchase offer that embarrasses you! I'm serious. This is where the real money is.

Everything in between will involve the real craft of negotiation and leverage. If Hellertown Pa is a slow real estate market, there is much to leverage in your favor.

Your agent will be a valuable resource in gauging the activity regarding a subject property and general sales activity related to this price point and home type.

Best of success in buying your new home.
Web Reference:  http://www.MyDunedin.com
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Phil Rotondo, Agent, Melbourne, FL
Thu Jan 12, 2012
You should find out:
The recent sales of comparable properties.
The current list-to-sale ratio of comparable properties.
With that info then offer what you feel is reasonable and see what happens. The worst that can happen is the owner says no.
Web Reference:  http://www.321property.com
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Timothy Garr…, Agent, Philadelphia, PA
Thu Jan 12, 2012
Hi, Metoland.

To answer your question, no.

The reason being is that as a buyer in today's market, you usually have the upper hand. This is what is referred to as a "Buyer's Market." Supply is high, and demand is low. Being that is the case, you should leave room to negotiate.

On the same token, you also don't want to insult the seller with a ridiculously low offer. That can backfire and you may even lose the right to potentially do business with that seller.

If you have more questions, please feel free to call or email. All of my contact information is below.

Best,
Tim

Timothy Garrity | Realtor & Consultant
Licensed Real Estate Salesperson - #RS314897
215-829-8850 Office
267-879-2716 Mobile
tim@usspaces.com
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