Buyer Beware - Of Other Buyers!

By
Real Estate Agent with Shorewest Realtors, Metro Milwaukee

Buyer Beware - Of Other Buyers!

 Homes for sale Germantown, WI Kevin Nash

You've found your dream house, so you'll make an acceptable offer and live happily ever after... unless another buyer beats you to the punch!  In a competitive marketplace, this can not only happen but will happen!  That's why it's important to make sure your offer strategy includes a strong stance against other potential buyers and their offers.

 

You've been blessed with a buyer's market for the last 4 years and now you want to cash in. First of all, the market is heating up and in a competitive market with relatively few quality properties available, "dream home" category homes will become hot properties---often as soon as the for-sale is planted in the yard. Most buyers want to purchase a home that requires very little fix-up.

 

Second, in an active market, timing is everything. In the good old days (yesterday), you might have the luxury of viewing a home several times---even dragging your relatives to see it before you actually made an offer. "He/she who hesitates is lost" aptly explains buyers who dally to make a buying decision today.

 

Homes for sale Germantown, WI Kevin NashAnd don't forget that being pre-approved for a loan has leveled the playing field for a

majority of buyers. If they're all equally qualified financially, the best offer (as interpreted by the seller) gets the property.

 

So what can you do to arm yourself to the teeth with added value to capture a seller and counteract offers from other buyers? First, make sure you are financially pre-approved by a lender for the loan you'll need and be prepared to document this fact to a seller if requested. In fact, many lenders provide pre-approval certificates to buyers, a copy of which could be presented to the seller.

 Homes for sale Germantown, WI Kevin Nash

Be honest with the seller about your interest in purchasing the property. This doesn't necessarily mean that you won't negotiate a fair purchase; but it also doesn't mean that you'll act nonchalant and non-committal either. Sellers often choose one buyer's offer over another based on the level of personal interest and commitment the buyer appears to have to the seller's home.

 

Lastly, make sure you fully communicate the desired outcome to the real estate agent

you're working with. If he/she is a buyer's agent, negotiating on your behalf, outline to the agent just how much you want this house and what you're willing to do to get it. The

agent will then evaluate the best tack to take in terms of price, purchase terms and

negotiating tactics to help you realize that goal.

 

The next time you're inclined to wonder what evil trick the seller might be up to, better

look behind you first... to see if other buyers are trying to pull the rug out from under your dream home!

Homes for sale Germantown, WI Kevin Nash

Posted by

Kevin Nash Kevin Nash Germantown WI
Shorewest Realtors
®

262.437.5830 Direct
262.227.7908 Cell
262.782.5070 Fax
www.knash.com

Email: Knash@shorewest.com

Selling homes where I live is what I do!

http://www.facebook.com/#!/profile.php?id=1171114121 http://www.linkedin.com/profile/view?id=10288680&trk=tab_pro 

Looking to move into the Milwaukee Metro area? Contact Kevin Nash, his knowlege of the Washington, Waukesha, Ozaukee and Milwaukee counties allows him to help you find what you are looking for, home!

Contact Kevin is you are if you are considering buying or selling a home or would just like to have additional information about real estate in your area.

 

 

 

Serving Metro Milwaukee, Washington County, Waukesha County and Ozaukee County since 1998 with over $80 million in career sales

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Topic:
Home Buying
Location:
Wisconsin Washington County Germantown
Groups:
Realtors®
Milwaukee
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homes for sale germantown wi real estate germantown wi washington county wi

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Rainer
135,128
Margie Kopp Sorrell
Lake Oconee Real Estate
Coldwell Banker Lake Oconee Realty and Lake Country

I'm not quite sure what people are waiting on. A deal? Look around, would ya?

I hate it for those who were waiting on the smoke signals to tell them the market had hit the bottom. Dare we say that the recent influx in activity means we're heading back up?

March 02, 2012 08:35 AM
Rainmaker
474,464
Cindy Westfall
ABR,GRI Your Tualatin & Portland Metro Real Estate
Premiere Property Group,LLC Portland Metro & Suburbs Oregon

Hi Kevin, Great post! I'm seeing this starting to happen in our area as well. Unfortunately, buyers are still in that mindset that they have plenty of time and lots of negotiating power. In some areas and homes they do....but in many areas and neighborhoods that are desirable, the home choosin is getting pretty darn slim. Great advice, hope it doesn't take them losing a few good homes to realize this IS the case.

March 02, 2012 07:22 PM
Rainer
71,324
Kevin Nash
ABR, CSRS
Shorewest Realtors, Metro Milwaukee

Hi Margie, I'm not sure either. Most buyers are stalking the net looking for a deal and when it comes about, they seem to say it's not good enough....

Hi Cindy, the market is changing and In our area I can say we are now on the bottom looking up. I'm going to hold on tight because it's going to be a wild ride! :-)

March 06, 2012 05:53 AM
Rainmaker
1,228,683
Michelle Gibson
REALTOR
Hansen Real Estate Group Inc.

Kevin - I just received word that my client lost a home to another buyer.  Sometimes even going in at full price or above doesn't guarantee the seller will accept a buyers offer especially when there are other buyers are there.

March 06, 2012 05:14 PM
Rainer
71,324
Kevin Nash
ABR, CSRS
Shorewest Realtors, Metro Milwaukee

Hey Michele, Believe it or not, I just submitted an offer along with 13 other homeowner wannabees. That's right 14 offers on a HomePath home. We'll see....

March 06, 2012 06:54 PM
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Rainer
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Kevin Nash

ABR, CSRS
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