Q. What is a typical good offer?
A: Meeting the needs of the Vendor & Buyer.
It has been my experience that if the Buyer submits a reasonable offer that will meet the needs of both Vendor and Buyer the negotiation process and generally the transaction from start to finish is stress free, quick and easy.
There are some very simple guidelines to consider to conclude a good offer, they are as follows:
·Keep subject clauses to a minimum (if possible.) There are a couple of standard subject clauses, such as financing and home inspection, you or your realtor may have reasons to add others. Subject clauses require a date deadline, I find Vendors like the dates for removing subjects to be all the same, this is helpful for the buyer as well, you only have to concentrate on getting all of the required information completed for one date.
·Find out what the Vendor would like for closing and possession dates and choose dates that will work for both parties. Your Realtor can get this information.
·Submit your offer (Contract of Purchase and Sale) with a reasonable dollar figure. (Based on some facts). You need to find out some information that will help you arrive at the dollar figure. Answers to the following questions may help: 1)Are there more Buyers than properties available or visa-versa? 2)What comparable properties have been listed for and how much have they sold for? 3)Have these same properties been renovated and to what extent? 4)Are different areas of town more or less expensive than other areas?
Remember to utilize your Realtor for information we are a great resource.
All of the information you and your Realtor have gathered should lead you to a good strong offer for your Realtor to present to the Vendor or the Vendor?s Realtor. Keeping things reasonable, simple and factual can make purchasing a property fun and rewarding.
Til next week, keep warm and remember if you have a question please submit it in writing to Brenda Banham Dawson Creek Realty Ltd.: e-mail firstname.lastname@example.org fax 250-242-3256 or mail Box 1769 Tumbler Ridge, BC V0C 2W0.