An Overview Of The Offer & Negotiations Process

AN OVERVIEW OF THE OFFER & NEGOTIATON PROCESS

Once you find the right home, Robert Bruckner will help you negotiate the sale. Helping you figure out the best offer is the first step in getting your offer accepted.

There are many factors that influence the final sale price of a given property. The biggest factor from a buyer's standpoint is the buyer's interest level in the home. The more you want the home, the more you are willing to pay for it.

Here's what you need to know about asking prices and sellers:

The price goes up when there are multiple offers. Sellers will play one offer (even a bad one) against another.
You won't necessarily know the price or terms of the other offers.
The highest price doesn't always get the house.
Who your agent is and how your offer is presented can be a deciding factor.
The price goes down when there is competition among properties for buyers. The price goes up when there is competition among buyers for a particular property.

Only you can decide how much money is enough. Only you can decide when you have to walk away from the property. A lot depends on your motivation. As your REALTOR®, my job is to give you the facts so you can make the right decision. My job isn't to make the decision for you but to simply follow your wishes. I'll showyou what homes are selling for in the neighborhood, I'll research the competition, and I will tell you what I honestly think the majority of home buyers would be willing to pay for the property. The decision, of course, is entirely yours! But, when you work with me, Robert Bruckner, you'll have the facts.

How To Make An Offer

Making an offer is simple when you work with Robert Bruckner. Robert will provide you with the most recent market area data so you'll know how much similar homes have sold for. Robert will also show you how the home you are thinking about purchasing stacks up to the competition. Additionally, Robert will show you how the other homes on the market (the ones you are NOT interested in) can help you.
Making an offer is simple when you work with Robert Bruckner. Robert will provide you with the most recent market area data so you'll know how much similar homes have sold for. Robert will also show you how the home you are thinking about purchasing stacks up to the competition. Additionally, Robert will show you how the other homes on the market (the ones you are NOT interested in) can help you.

Using the current market data, Robert will help you determine the very best offer. Factors that determine an offer are:

Your Level Of Interest
Current Competition from Other Home Buyers
The Listing Realtor and The Information They Provide or Don't Provide
Recent Home Sales of Similar Properties

Writing Your Offer

In New Jersey, REALTORS write the real estate contract. The contract is subject to a 3-day attorney review period. This means that the contract can be cancelled by either party .

The offer contains the general terms which are the price you wish to offer, the amount of your down payment, the mortgage amount and the estimated closing date.

The offer is usually contingent upon you obtaining a firm mortgage commitment and a satisfactory home inspection. The contract says that you have a certain time period in order to get your mortgage commitment and to complete your home inspection. These dates are called contingency dates. They are critical dates in the transaction. Your attorney can change these dates (and other aspects of the contract) during the attorney review period.

Robert will review the entire sales contract with you so that you'll be completely comfortable in signing the offer. The offer must be signed and the real estate company must have an earnest money deposit of typically $1,000. The deposit is completely refundable should the offer not be accepted.

Presenting Your Offer

Whenever possible, Robert Bruckner will present your offer to the sellers in person. Robert will show them your pre-approval letter and explain the terms of the contract to the owner. Usually, the sellers' agent is also present.

The discussions you had with your agent are confidential. Your motivation or top dollar is never disclosed to the seller.

Robert's goal is to get your offer accepted as presented. And, if that's not possible, to get a counter offer (lower price) that may be acceptable to you.