Top Tips For Putting In An Offer
MAKE YOUR INITIAL OFFER
$10,000 OR $15,000
– below the maximum you would be willing to pay. This allows you some wriggle room to negotiate if the vendor counter offers
OFFER AN UNEVEN NUMBER
– such as $505,230 – it looks as if you are putting every-last cent in. You could also write down and cross out some lower figures, such as $500,000 and $502,000. This shows the progression you have taken to get to the price you are offering.
FILL IN THE OFFER AND DROP IT OFF TO THE AGENT YOURSELF
– and push as hard as you can to get the offer presented to the vendor on the same day as you put your offer in – this reduces the amount of time they have to rustle up other offers.
IF YOU CAN’T GET TO THE AMOUNT THE VENDOR WANTS, GIVE THEM SOMETHING ELSE
– choice of settlement date, tighter due diligence period, less chattels included. Don’t let pride get in the way of buying your dream home.
IF YOU ARE IN A MULTIPLE OFFER SITUATION
– you need to put your best price forward first time.
HAND WRITE A LETTER TO THE VENDOR WITH YOUR PERSONAL STORY
– It is not uncommon for vendors to accept $20,000 or $30,000 less than the highest offer because they liked the buyer. It sounds a bit cheesy but tell them about your struggle. Or even better ask the agent if the vendors could be home when you go for a private viewing. You can then meet them and build a relationship with them.
UNDERSTAND THE REASON THE VENDOR IS SELLING
– (understand their motivation for selling). Once you know this, you can then add a note to the offer that wishes them luck with their next move “e.g. good luck with moving to Christchurch, we wish you all the best”. If you are writing a letter (above), personalise the letter to include this.
DON’T LET THE AGENT KNOW THAT YOU ARE EMOTIONALLY INVESTED IN THE PROPERTY
– When you are speaking with them, especially when you are putting in the offer, do not talk about the house in an emotional way. E.g. do not talk about how your white leather couch will fit in the lounge nicely, or that your TV will fit on the wall perfectly. This information screams to the agent that you will negotiate be