Buyer Tip ~ How much to offer
You can save yourself a lot of time and aggravation by asking your real estate agent to have a heart-to-heart talk with the listing agent before you make an offer… particularly if you intend to offer significantly less than the list price.
If the seller is adamant about his price, and there are plenty of other similar listings on the market, devote your energies to a seller who is willing to sell at current market value.
Ideally, your offer price should not be above what you think the property is worth or what you can afford, but tempting enough to the seller that he can’t refuse to accept.
Ask your real estate agent to find out:
1. CMA sales, listings, time ~ How much have similar properties been selling for recently? Did they sell for more or less than the asking price? How long did it take them to sell?
2. Interest ~ How much attention is the listing is receiving? Are there other buyers who are serious about writing offers?
3. Time on market ~ How long has the listing been on the market? The longer a listing is on the market, the more likely the seller will be to consider an offer less-than-asking… especially if there are similar new listings coming on the market every week.
4. Motivation, mindset ~ Is the seller is motivated (that is, he really needs rather than just wants to sell)? How realistic is the seller about the current value of his home?
5. Negotiation ~ Don’t be afraid to negotiate, even if you’re not in competition. Some motivated sellers still can’t resist trying for a higher price. Several rounds of counteroffers back and forth could bring about a successful conclusion.
6. Property use ~ Evaluate investment property by the numbers – they work, or not, based on your personal finances and investment objectives. Aesthetics and lifestyle play a much bigger part when purchasing property for personal use - you might consider paying a little more for your ideal home.
7. Close or walk away ~ Close the deal if you are close to agreement and the property suits your needs. Walk away if you’re looking for a bargain and the seller won’t budge.
Source: Dian Hymer, Inman News
For help finding property and making offers, contact Barbara Chartier at 843-902-0204.
Hi,
I have one of the units on the Bahama Island Marina project in North Myrtle. I’m very excited about the project, and I’ve placed my unit on the market since I need the cash for an upcoming move.
Has anyone else heard any comments, good or bad, on that project? Thanks all.
on July 2nd, 2006 at 12:18 am from R-Man
READERS - What do you think of Bahama Island Marina Resort? Let us know!
on July 3rd, 2006 at 1:00 pm from Barbara
I did see a recent article about how they made some agreements with the community about “smart growth”, how much open space they would preserve, etc. So it sounds like they are being environmentally responsible, which is always nice!
Here is that article in case anyone is interested.
on July 4th, 2006 at 4:07 pm from Derek
Thanks Derek - anyone else?
on July 5th, 2006 at 9:08 am from Barbara and Art
Bahama Island - BTW - If you type the name in the “search” box (upper right) - you will find all the posts related to Bahama Island.
on July 5th, 2006 at 9:18 am from Barbara and Art