Thinking About Making an Offer on a House?

Thinking about making an offer on a house? I just put together an email for a client and realized that I’d love for all of our clients to see it!

“I think the unit in question is priced appropriately, but I also think you need to be prepared to offer over list price.  Cash will absolutely make a difference, but often not at the expense of a higher offer.  We’ll need to find out the seller’s motivation and expectations. 

Here’s what we are seeing in the market:
  • Competition – very rarely are there fewer than three or four offers on a property. The team bid on a few places this weekend and one of the condos had 17 offers but that is extremely rare.
  • Seller friendly terms
    • Buyers are limiting inspection requests to issues that are major mechanical, structural or safety related – sometimes they are allowing for a $5000 limit, meaning they’ll ignore any issues below that threshold – ie: paying for the first $5000 of repairs brought to light by the home inspection.  Note: you are not giving up your right to inspect or to walk away if the inspection results are unacceptable to you.
    • Closing – offer to close at the seller’s convenience – some people are offering a free rent-back if the seller needs that.
    • Deposit – first and second deposit are due at the conclusion of attorney review, prior to inspections. They should be hefty enough that the seller knows you are committed.
  • Misc
    • Offer to pay for and schedule the township fire inspection
    • Offer to pay for a home warranty that will cover the seller throughout the transaction
    • Offer up your first born”

So if you are thinking about making an offer on a house, let’s work together in putting together the strongest offer possible.

top basking ridge real estate expert Jennifer Blanchard at Berkshire Hathaway

Jennifer Blanchard Team

Berkshire Hathaway HomeServices NJ Properties

(908) 432-0318 |

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Jennifer Blanchard

Jennifer Blanchard is a Top Producing real estate agent in Basking Ridge with over 20 years of experience. She would love the opportunity to discuss any real estate questions you have.

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