Why You Need to Start With a Strong Offer

Hoboken Real Estate Podcast with Brett Sikora

When you make your first offer on a home, it needs to be a strong one. There are a couple of main reasons why.

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When you make your first offer on a home, you need to make sure that it’s a strong offer. Why?
First of all, there’s the matter of etiquette to the seller.
For example, let’s say that a seller lists their property at $800,000. It just hit the market and you see it over the weekend for the first time. You make an offer at $750,000.
Now, the seller hasn’t been on the market long enough to accept that offer. They might counter offer and they may even accept your offer at $760,000. However, they will continue to show that property to other buyers. They will also look for every chance to kill that deal.

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Don’t give someone else the chance to make a better offer than yours.

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The other thing to keep in mind is that once another buyer knows that you’ve already made an offer on the property, they will go in with a stronger offer than yours. Don’t give another buyer a chance to steal your dream home away.
Go in with a strong offer, get in and out of attorney review, and try to get to the closing table as soon as possible.
If you have any other questions about buying a home in today’s market, just give me a call or send me an email. I would be happy to help you!