When you’ve finally picked out the condo, house or townhouse that interests you, it’s time to write the offer. Together with proof of Earnest Money, and lender approval, I’ll present the offer to the selling agent.
Presenting an offer is a little bit more involved than simply faxing paperwork to the listing agent and then waiting for a response. It is important to get the offer over as quickly as possible. Bargains (in any market) don’t last long. Then I call the listing agent to let them know the offer has been sent.
When appropriate, I follow up in the conversation by sharing appropriate details with the listing agent. For example:
I can give the selling agent some personal background about my clients and what they are looking for. I can explain why they are qualified to buy or how many homes my client has looked at. In some cases, it’s appropriate to tell seller what the buyers appreciate about the home.
I sometimes provide the sellers with a comparative market analysis to show the sellers the rationale behind the offer we are making.
Of course, it’s my job to explain and review all of the major details of the offer;
- contingent or non-contingent,
- date of closing,etc.
- and of course, price.
When necessary I discuss a brief timeline outlining the expected milestones between the offer and settlement.
One of the biggest questions every condo buyer and home buyer has to ask is, “How much work am I willing to take on?”
Some folks want a turnkey residence. Some folks want a residence that has brand new modern appliances and cabinets. Some people want appliances and cabinets that have never been used.
Some people don’t mind an older kitchen. Some people like the feel of a kitchen that was put in long ago.
Others like an older kitchen because they like the idea of ripping out the old and putting in the new. It can be very gratify—not to mention financially rewarding—to completely remake a residence. As a homeowner, or condo owner, you are the ultimate authority. It is your domain to decide what will stay and what must go. This can be a lot of fun.
But, remodeling can be a lot of work. Living through the dust and the inconvenience can be a hassle. If you don’t know where to turn to, it can also be very expensive. But no matter how you personally resolve the issue, it’s important to consider before you actually start shopping.