|
making an offer - email, phone, or in-person?
| Posted By |
Message |
femalej
LIF Adolescent
Member since 7/11 833 total posts
Name:
|
making an offer - email, phone, or in-person?
we have the opportunity to present an offer using any mechanism, including having our agent with us to present an offer in person
are there pros/cons?
fyi - apparently there is more than 1 offer on the table; some of which are greater than ours...
thoughts??
|
Posted 3/27/13 8:40 AM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
Pomegranate5
LIF Adult
Member since 2/11 4798 total posts
Name:
Pomegranate5
|
Re: making an offer - email, phone, or in-person?
We just had our agent make the offer. Initially she negotiated over the phone for us and then sent the official offer via fax when we agreed on a price, but we were the only offer on the table at the time.
The way you worded it makes it sound like there are several offers that are higher than yours. TBH, I don't think it matters how you make the offer - I wouldn't expect them to go with yours if they have more than one higher offer to choose from. Unless I'm reading it wrong.
|
| Posted 3/27/13 9:27 AM |
| |
|
|
|
Re: making an offer - email, phone, or in-person?
As an agent, I usually like to present my clients' offers directly to the sellers in some way (either in person or via conference call on the phone, with the listing agent present as well). I prefer to do this rather than just send the written offer to the listing agent via email, because I know my buyers best and I can make the best case for them. Also, with a certain type of seller (e.g., someone who's lived in their house for awhile), it's an emotional process, and it can help to paint a picture of the buyer with emotional appeal (making it about more than just the money, but also the fact that the buyer will love and treasure the house as much as the seller did, raise their kids there, etc.). If it's a builder or investor selling the house, then the emotional appeal is not really a factor. I usually don't have my buyer present when I am making offers on their behalf, though.
Sometimes, it's not possible as a buyer's agent to present my offer directly to the seller, so then I always prepare a nice email package (sometimes including a letter from the buyers about why they want the home), explaining the terms of the offer, giving the preapproval, etc. Even when I do present the offer in person, I always send the email package afterward. It's important to be clear about all terms and present everything in writing. Having all of the paperwork in order also makes you seem more "ready" and motivated as a buyer than someone who just tosses out a number verbally.
I wouldn't assume that you are out of the running if there are multiple offers higher than yours. Multiple offer situations are becoming quite common, and often the seller will go back to every buyer who put in an offer and ask them to come with their "best and highest offer." So you may have the opportunity to come up, if that's a possibility.
Also, I recently sold a house where there were 4 offers on it. My buyers' offer initially wasn't accepted, but the cash buyer that was chosen ultimately backed out, and my buyer's got the house (and they paid $12K less than asking, not full price, and had minimum down and needed a seller's concession for closing costs). So you just never know! It never hurts to get your offer in. Sometimes, it's about more than price... if someone has a higher offer, but has something to sell, or can't close for 6 months for some reason, and the seller needs to move asap, they may still prefer your offer if you can move quickly. A lot of factors come into play!
|
| Posted 3/27/13 9:38 AM |
| |
|
JDubs
different, not less
Member since 7/09 13160 total posts
Name:
|
Re: making an offer - email, phone, or in-person?
we did mostly offers over the phone through the RE agent. One realtor (the one we got our house with) had us submit a "formal offer" on paper because I guess it looked better, (who knows if this is true though) but when the sellers countered we re-countered over the phone.
|
| Posted 3/27/13 9:38 AM |
| |
|
|
|
Re: making an offer - email, phone, or in-person?
Posted by JDubs
we did mostly offers over the phone through the RE agent. One realtor (the one we got our house with) had us submit a "formal offer" on paper because I guess it looked better, (who knows if this is true though) but when the sellers countered we re-countered over the phone.
It's VERY important to submit the offer in writing, even if it's presented over the phone or in person first. And obviously the back and forth negotiations/counteroffers aren't all done in writing until you come to the agreed upon price, because they tend to happen quickly.
But as a listing agent, I would not take seriously any offer that wasn't in writing, and would not allow my seller clients to accept an offer/move forward with a buyer who did not submit a written offer outlining price, terms (down payment, type of mortgage, expected closing date), and a preapproval letter that I could verify (or proof of funds for a cash buyer).
This is more true than ever in an increasingly competitive market where there are multiple offers on houses. A verbal offer isn't worth anything to me as an agent... if a buyer isn't willing to commit to signing the paperwork early on, it would make me skeptical of them. And when an agent sends me a nice package of offer paperwork, I immediately thing of that agent and client and the offer in a more favorable light than someone who doesn't send paperwork or sends incomplete paperwork.
|
| Posted 3/27/13 9:43 AM |
| |
|
Potentially Related Topics:
Currently 939083 users on the LIFamilies.com Chat
|
Long Island Bridal Shows
|
