What will the owner take?
As a real estate professional, we are legally obligated to represent the seller of a property UNLESS we are representing the buyer. Sounds convoluted, and thinking about it more there is elegant logic. We must represent the buyer when we have signed paperwork saying we are representing the buyer.
When asked, “what will the owner take” we generally answer, “the way to find out is the make an offer.” A seller may not accept the first offer, and generally a process of negotiating begins.
We’ve had some buyers say, “Let’s find out if they’ll accept our offer before writing it up.” Why would a seller accept an incompletely documented offer? It’s almost saying to the seller, “We know our offer is low, and it is not worth our time writing it up.”
We’ve seen sellers accept lower offers when accompanied by an appropriate offer package. A professional real estate consultant will take the time to present an offer in a compelling manner. And we often never know what is motivating the seller to sell…are they just “done” with the process or the house, or do they have other financial or personal commitments rendering a house sale beneficial. Maybe they want a quick close and timing is more important than sales price.
Buying a home is often an emotional process. We believe you don’t want to lose your dream house over a thousand dollars. We also believe all houses have a reasonable top end price where the home simply doesn’t represent a good investment.
We recommend knowing your numbers and working with a real estate professional helping you make the right move.
Reader Comments