Making the offer on your future St. Louis home is nerve-wracking, no matter how prepared you are. You want to have your ducks in a row and make an offer that will please both sides, and get you into your home. Lots of people make classic errors when making their offer that you can easily avoid. Here are 3 mistakes to avoid when making your offer.
Mistake Number 1: Starting at the top
Many first-time homebuyers make a critical mistake right out of the box by offering the maximum allowed by their pre-approval for the house. (You did get pre-approved for your mortgage, right?) What this does is set you up for failure, since you have nowhere to go. It can also backfire if you blow everyone out of the water, since you can end up paying more than you needed to. Even in a seller’s market, there is no reason to overpay for a home. You also want to avoid lowballing, as it turns off the seller and can keep you from getting the house in a bidding war. Go with what you are comfortable with.
Mistake Number 2: Waiting it out
The longer you wait, the worse it can be. In a red-hot market like today’s, waiting a day can cost you the house. We work on both sides of the equation, and see homes selling the first day on the market, sight-unseen and over market value. That’s why waiting can be fatal for home shoppers.
Mistake Number 3: Swaying with the wind
When you are buying a house, YOU ARE BUYING A HOUSE. If you love it, who cares what other people think? Now, that doesn’t count for inspectors or professionals that are trying to help. I mean your mother-in-law telling you that she hates the landscaping, or your Dad telling you that he’d never buy a home in that neighborhood. Don’t listen to the naysayers. Buy the house that you want.
If you are ready to buy or sell your home, call Rick and Tracy Ellis of Keller-Williams Realty today to get the best deal! We have 20 years of experience buying and selling homes in the St. Louis area, and nobody will get you a better deal on your home. Call us at (636) 299-3702, email Tracy at tracy@tracyellis.com or Rick at rick@tracyellis.com or visit www.tracyellis.com to learn more. You can also listen to us every weekend on FM News Talk 97.1, Saturdays at 4 p.m. and Sundays at 10 a.m.
