760-413-9078

WHAT HAPPENS IF MY OFFER IS LESS THAN THE ASKING PRICE OF THE HOME?

In the real estate industry, just like any other market, you’re are at liberty to offer above, below, or the exact asking price by the home seller. But, it is important that you study the market situation and seek advice from qualified realtors in your desired locality before presenting your offer. These precautions will help you to make informed decisions that will give you an edge in your negotiations on the transaction.

The offer you’re going to make will largely depend on how eagerly you want the property and the level of competitions surrounding your choice of a home. If you make an offer that is below the asking price, the seller has three options. They can accept your lower offer, counter your offer, or reject your offer outright. It is important to keep in mind that there may be other buyers who are interested in the same home. If those buyers happen to write an offer at the same time you do, the seller will have multiple offers to compare. Usually, there are many aspects to consider for each offer, but ultimately, the seller will accept the offer that is the best and most complete. In an active real estate market, homes typically sell at or near the list price. In hot markets, there are usually multiple buyers competing for the same home, which can sometimes drive up the final sales price beyond the original listing price. My job as a real estate professional is to help you plan a strategy based on current the real estate market conditions in the various cities in Coachella Valley.

Although you’re free to offer below the asking price, offering the list price can, however, give you an edge in some ways. Here are a few reasons why you should offer the asking price to the seller:

  1. It enables you to gain the seller’s cooperation

If you agreed to pay the list price, the seller might overlook other factors inherent in the purchase contract that might equally be as important as price. The seller may willingly agree to pay for inspections or reports if you pay list price.

  1. It gives you competitive advantage

Offering the list price locks you out of the competition in the event of multiple offers. Your offer will definitely stand a better chance of acceptance where another buyer might be trying to negotiate.

  1. It gives you control over repair negotiations.

If you accept the list price, the seller will be more receptive to negotiating the cost of a repair. The seller will not find it difficult to throw back a little of the cash in your direction by putting things in order for you.

  1. You stand a chance to get what you really want.

If you really like the home, it environment, and you’ve also found the price to be attractive and acceptable to you, don’t hesitate to offer the list price. If you’re not reasonable with your negotiation, you might end up losing the home. Hence, before you offer less than the asking price, always ask yourself if it really worth losing the home over a few thousand dollars that may not be significant in the long run.

If you live in any of the cities in Coachella Valley and you’re interested in buying a home in the neighborhood, you can contact me for a most reliable professional real estate advice you can find on the market.

What is the next step?

As I mentioned earlier, consulting with a professional will avoid legal problems and unexpected extra expenses so remember that you can call my mobile phone at

(760) 413-9078

or subscribe to the electronic bulletin so you can receive updated information and you can have a professional by your side.

If you have any questions you can contact me or send me a message from the contact page.

Buying a Home in 2018 in Coachella Valley

Buying a Home in 2018 in Coachella Valley 2018 Real Estate Trends to Watch The Coachella Valley is as popular as ever, with visitors from around the world convening in the desert to relax and enjoy our mild winter climate, surrounding natural beauty, cool...

How good or bad is the real estate market in Palm Springs this 2018?

How good or bad is the real estate market in Palm Springs this 2018? The real estate market in Palm Springs is in constant motion. Prices are variable and accessible depending on the needs of each person. Palm Springs is an area where we have the honor each year, to...

WHERE DOES MY EARNEST MONEY GO? When buying a home

WHERE DOES MY EARNEST MONEY GO? When buying a home   An earnest money is the deposit often made by buyers toward the purchase of a home as a demonstration of the seriousness or willingness to complete the purchase. However, the question that is often asked by...

WHAT OTHER FINANCIAL COMMITMENTS ARE INVOLVED? When buying a home

The mortgage application fee

When you seek for a home loan, your lender will charge you a fee for the mortgage application. The amount charged for the mortgage application fee may vary, depending on the state policies. Where ever your location is, be prepared to pay several hundred of dollars for the application.

WHAT IF I NEED TO SELL MY HOME BEFORE I BUY A NEW ONE?

WHAT IF I NEED TO SELL MY HOME BEFORE I BUY A NEW ONE?   There is no right or wrong decision pertaining selling your old home before or after buying a new one. Whether any of the decisions would be an advantage for you will depend on your unique situation and the...

WHAT HAPPENS IF MY OFFER IS LESS THAN THE ASKING PRICE OF THE HOME?

WHAT HAPPENS IF MY OFFER IS LESS THAN THE ASKING PRICE OF THE HOME? In the real estate industry, just like any other market, you’re are at liberty to offer above, below, or the exact asking price by the home seller. But, it is important that you study the market...

WHAT ARE THE DIFFERENT STEPS INVOLVED IN HOME BUYING?

WHAT ARE THE DIFFERENT STEPS INVOLVED IN HOME BUYING? Buying a home doesn’t have to be complicated, if you start with the right steps from the onset. You may not be aware of the complexities surrounding home buying until you’re ready to buy one. However, if...

IS IT POSSIBLE TO LOSE MY EARNEST MONEY?

IS IT POSSIBLE TO LOSE MY EARNEST MONEY?   It is a rare occurrence for buyers to lose their earnest money, but it could happen if due diligence is neglected. This is why you should never be tempted to the extent of deciding to represent yourself in a real estate...

HOW IS MY OFFER PRESENTED TO THE SELLER?

If commissioned to be your real estate agent, my job is to walk you through all the processes involved in the buying of a new home. I will liaise with the listing agent on your behalf and set an appointment with the seller to present your offer. I will be there to...

DOES MAKING AN OFFER COST ME MONEY?

Making an offer won’t necessarily cost you money, but you will be expected to show good faith by paying an earnest money deposit if your offer is accepted. The deposit is a sign that you are serious about your offer on the home. So, if you want to buy a home, you...
Share This