When you're hoping to buy a specific house and are working on the offer with your agent, it's important to try to remain as neutral as possible. Even though you're close to buying the house, you don't want to be too attached, as there are still some obstacles that you'll need to overcome. Some of the obstacles that you may face during this process can result from things that you do that can sabotage the deal and prevent it from happening. You should always rely on the expertise of your realtor during this time, as he or she will know how to avoid certain shortcomings with the offer. In general, here are some mistakes that you shouldn't make.
Being Too Much of a Stickler over the Price
Obviously, you want to get the house for as little as possible — and the seller wants to get as much as possible for the house. You'll often go back and forth a few times, but it's important to avoid being too much of a stickler over the price. The longer the negotiation takes, the less willing the seller might be to make a deal. For example, if the original listing price was $250,000, and your first offer was $220,000, you may end up hovering around $235,000. If the seller asks for this price, don't get petty by asking for an amount like $233,000. This might annoy the seller to the point that he or she rejects your offer. Your agent will likely remind you that this type of counteroffer could prevent you from getting the house.
Being Slow to Respond to Offers
While it's OK to sleep on an offer you get and respond the next day, being slow to send back a counteroffer can frustrate the seller. By the time the seller is receiving offers on the property, he or she likely wants to get the sale done. Your real estate agent will advocate moving quickly, so it's important to heed this advice. Failing to respond to offers can have the seller decide outright to stop negotiating with you or to simply focus on another offer in the meantime.
Asking for Small Changes to Be Made
It's understandable to include a request for a major issue to be fixed when you submit the offer. For example, if the roof needs to be redone, you might ask the seller to take care of this job before you agree to buy the home. In general, though, it's a bad idea to ask for small changes that you can easily do yourself. For example, if you don't like the color of the paint in a room, you should simply accept that you'll need to repaint the room later on, rather than request in the offer that the seller does this job.Share