The other day I overheard a Destin Florida real estate agent writing a very low offer for her buyer client. She scratched her head and said “This will never get together!” The offer was about 15% under list price for a Destin property. In this case, the list price seemed pretty good, so the agent didn’t know how to help her client’s offer look better. I gave her some tips on how to make her buyer’s offer more palatable to the seller and listing broker.
1. When making a low offer, don’t ask the seller for closing costs. Why? Because the listing agent can “sell” the higher net to the seller when he doesn’t have to pay closing costs. I just had a case where the buyer wrote a low offer on one of my listings, but actually paid for all closing costs, including the brokers’ commission, title insurance and documentary stamps on the deed. The purchase price seemed a bit low, but it made a difference to the seller to not have to pay additional costs.
2. When making a low offer, accept the property “as is”. Why? The seller will “save” money by not paying for repairs. You will also be making the sale easier and more convenient for him, especially if he is out-of-town and the property in an investment property or needs work.
3. When making a low offer, close fast. Why? Time is money. The seller will get paid quicker, so he may take less.
4. When making a low offer, make the rest of your terms clean. For example, don’t write an offer asking for contingencies such as your other property selling first, the seller’s leaving the dining room hutch or your grandmother seeing it.
5. When making a low offer, or any offer, provide your “proof of funds”. Your offer will look stronger from the beginning if you provide a written pre-qualification letter from your lender or proof of cash funds.
Questions? Give me a call!
It’s Wendy… It’s Sold!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-650-7883 ext 204
Email Wendy: [email protected]
Wendy Rulnick, Broker, has been featured in “Kiplinger Personal Finance Magazine” and “Florida Realtor Magazine”. Wendy Rulnick sells real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Panama City Beach.