You've found the house you've been looking for, and it's time to sit down with your Realtor® and write the offer.
So how much are you going to offer? Thinking about offering a lot less than what the seller is asking just to see what happens even if comparables show the house is priced well? Is that a risk you're willing to take?
Yes, there's more to an offer than just the price. There are contingencies like home inspection, financing, radon testing. There's earnest money and the closing date. There might even be a request for a home warranty or seller concessions. But when the seller first sees that offer, all they are probably seeing is the price.
In those situations when the price offered is considerably less than the list price, I always try to encourage my seller to take a breath and look at the offer as a whole. Even if their price and the buyer's price are far, far apart, I try to encourage them to look at all the terms and write up a counter offer. Give the buyer an opportunity to show them how much they're willing to move.
It's tough sometimes, though. It can sting really bad when the seller sees the value a buyer is putting on their house -- their home. And sometimes, even after stepping away for a several hours or even a day or two, the price is what sticks in the seller's mind. And then anger and resentment set in. And there is no way they are even going to respond.
Every deal is unique. Every seller is unique. How they are going to react is anybody's guess. Each buyer has to decide the strategy they want to use and how much risk they're willing to take when writing that offer.
What is owning that home worth to you?