subject: Preventing Errors When Giving Lowball Offers [print this page] If you plan to negotiate for an Encinitas Real Estate property, one of the things you have to be certain is the purchase offer you will make for the house. It is important that you make the most desirable offer, especially if you are going to make it lowball. For sure, you would not want to put to waste all the effort you made in finding the best property from the Encinitas Homes for Sale listed in Encinitas MLS. If you hired a buyers agent to assist you with the home buying process and guide you in deciding for your purchase offer, you should still not be assured that you will not make any mistakes when you start the negotiation. You have to be very careful and cautious as you start to think about how much you are going to offer for the house. If you are going to pass a low offer, being fully knowledgeable about the process will be of great help for you to be able to be successful in that transaction. Making mistakes during the process, especially if you badly want the house, is not really an option for you. Below are the common errors made by home buyers when they submit a lowball offer for a property. Be sure to learn from these mistakes:
1.Giving the offer without talking to listing agent first
The listing agents can give relevant information about the property for you to be able to make smarter decisions regarding your purchase offer. Try to talk to the listing agent first before you finalize your offer. Also, before you write or submit your offer, double check from the listing agents first if the house has not been sold yet. You would not want to waste your time and effort making a purchase offer to a house that is already been given to other home buyer. You should also call the agent periodically so you can ask for updates about the property.
2.Offering with low deposits
When you submit your purchase offer, it will be more advantageous if you include your good faith deposit for the property. The earnest deposit can be at least three percent of the total sales price of the house. Do not make an offer way below the selling price, and then your good faith deposit will only be like a hundred dollars. Most probably, the seller will not accept this and he or she may easily reject your offer.
3.Giving Inaccurate Information for Comparable Sales
Comparable sales are helpful for home buyers because it serves as a guide for them with regards to the pricing of the property. Most of the time, potential home buyers include a record of comparable sales when they submit an offer to let the seller know that their property is unfairly priced. Yes, this is helpful if the property is really offered in an overwhelmingly high price. However, there are some home buyers who put inaccurate sales record even though they know that the pricing has a reasonable basis. This can only insult the seller. Remember, sellers and the agents spent time and effort first researching about the similar properties recently sold so they can set the rightful price for a property and there is no need for you to doubt their credibility especially if the pricing has a basis.
