• Be calm. Don’t express too much of an interest! Most of the specialists agree that when sellers see how much you want this house to become yours, they won’t accept your first offer. To avoid a counteroffer, you should always play it cool, no matter how perfect this property is for you. • Think like a seller. Change your perspective. Take a different look at this situation. Imagine you must sell this house in 2, 5, or 10 years. Will it be possible, or does it lack some basic features that the housing markets consider essential? • Don’t expect the price to lower after inspections. Bid lower than you can pay, and make your final offer with the most comfortable price you can afford. Repairs after the inspections will, most likely, not cost the seller millions. • Sign cautiously. Make sure you acknowledge all terms and realize all liabilities before you sign any documents. Once you sign the contract, there’s no way to make amendments without renegotiating and signing a new one. WHAT IF THERE ARE MULTIPLE OFFERS? In a seller’s market, you’ll probably have competition for the house you wish to buy. Sellers might be considering several offers at the same time. They will make their decision based on the best offer. They may also choose to work with one potential buyer and only send counteroffers to them. You, as a buyer, won’t know. The best way to protect yourself from multiple offers is to make your offer better than the others. Receiving a preapproval for the mortgage will be a good start to becoming the seller’s choice. Also, let the seller know the financial options you have. Some mortgage conditions and funding programs are more attractive and may influence the seller’s decision. Bid close to listing price. There isn’t much sense in offering significantly less in a seller’s market. Doing this will save you time on the ongoing counteroffering process.
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