Making a Strong Offer in Today’s Real Estate Market
This is something I shared with another client making offers. Just some advice to share with you?
With listing inventory this low in the bay area, you should ask your agent/Realtor what they think the property/listing will sell for vs what its worth. Many agents list property below market to get multiple offers and higher prices. Rarely do we run numbers based on list price, we tend to go a good $100k over the value to give a more realistic payment breakdown and sometimes that may still be too low.
For each offer you plan on making, asking your agent what they think the true value of the home is (also known as a CMA) and then how many offers will be made, is crucial to a successful offer in today’s real estate market. Once you determine the true value, then add 1% to 2% for each offer. Again, this may not result in the winning offer but it will get you close or at least afford the opportunity where the listing agent counters your offer, meaning your still in the running vs dead last on the offer.
For more info, contact us, your Real Estate agent and be sure to read the article below to see what’s happens when your not successful in ratifying the purchase contract.
Any questions, please contact me. Thanks.
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