significant amount of preparation and analysis. Go in knowledgeable, with consideration of all the components of your price offer when submitting the proposal to the seller. You are not so much responding to their listing price as using your own factors in arriving at your offer. The two aren’t necessarily related. Also, you need to consider the market you are in. Is it a buyer's market? (more homes for sale than buyers)? Is it a seller's market? (more buyers than homes for sale). Special considerations need to be examined when presenting offers in these types of markets.
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SPECIAL INSERT FOR 2021 - 2024 R 2021 - 2024 HYPER SELLER MARKE ELLER MARKET
In a hyper seller's market like the one we are in 2021 - 2024, negotiating for a home is more a component of how much you are willing to pay instead of what the numbers tell you and what the home is actually worth. It has not been unusual for a home listed at and actually worth $300,000 to have multiple buyers submitting offers with prices bid up to $350K or more, as well as all types of concessions buyers gave up to get the home over the other buyers. I have seen home inspections waived, appraisals waived, buying "as-is" and more just to stop losing out to other bidders and finally getting the home. With that in mind please understand that in this market, you may get outbid on several homes before finally getting an offer accepted. It is very frustrating! Do not give up! Also, if you do lose out on a home you really love ALWAYS ask to be a backup offer. Contracts do sometimes fall apart and it can be a great call to get from a listing agent asking if you are still interested in that home as the other contract fell through.
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