Ignite FB Tracking PixelIs Your Offer to Purchase Competitive? - Rosemary Pezzano

Is Your Offer to Purchase Competitive?

by Rosemary Pezzano 10/29/2018

As a homebuyer, it is important to do everything you can to find your dream residence. Once you discover your ideal house, you should be ready to submit a competitive offer to purchase this home.

Ultimately, there are several factors to consider as you try to put together a competitive offer to purchase your dream house. These factors include:

1. A Home's Age and Condition

Examine a house closely before you craft an offer to purchase – you will be glad you did. Because if you leave no stone unturned in your quest to learn about a residence, you can create an offer to purchase that accounts for a house's age and condition.

If you have questions about a house, you should reach out to a seller's agent. That way, you can address these questions before you submit an offer to purchase.

Also, it is important to remember that there is no such thing as a "bad" question to ask about a house. A home purchase may be one of the biggest transactions you will complete in your lifetime. And if you devote time and energy to learn about all aspects of a house, you can ensure you are ready to purchase this home. Perhaps best of all, you can identify potential home problems that otherwise may prove to be costly and time-intensive down the line.

2. The Current State of the Housing Market

Differentiating between a buyer's market and seller's market is key, particularly for those who are ready to submit an offer to purchase a house. If you assess the local housing sector, you can find out whether a buyer's or seller's market is in place and submit an appropriate offer to purchase your dream residence.

In a buyer's market, homes may remain available for many weeks or months after they are listed. Thus, a seller may be willing to accept an offer to purchase, even if it falls below his or her initial home asking price.

Comparatively, in a seller's market, there is a shortage of quality houses available. And in this market, the best houses sell quickly, which means you likely will need to submit a competitive offer to purchase to secure your ideal home.

To determine if a buyer's or seller's market is in effect, take a look at how quickly houses are selling in your city or town. You also should find out if homes are selling at or above their initial asking prices. With this information in hand, you will be better equipped than ever before to submit a competitive offer to purchase your dream house.

3. Your Homebuying Budget

There is no need to overspend to buy your ideal house. Therefore, you should try to submit an offer to purchase that accounts for your homebuying budget.

Oftentimes, it helps to meet with banks and credit unions before you embark on a home search. This will allow you to get pre-approved for a mortgage and enter the homebuying journey with a budget at your disposal.

As you navigate the homebuying journey, you may want to hire a real estate agent, too. Because if you have a real estate agent at your side, you should have no trouble crafting a competitive offer to acquire your dream residence.

About the Author

Author
Rosemary Pezzano
  • WHO I AM…

There are many reasons why I enjoy my career as a REALTOR. The main reason is the deep satisfaction that comes from helping people realize their dreams, helping them through the major transition that accompanies selling, buying and moving. Another reason is that no transactions are the same. Each one has its own characteristics and challenges. It is through overcoming the challenges that enables me to improve my quality of service. Each and every day I work at perfecting my attention to detail and my commitment to excellence while being mindful of my core values.

  • WHAT I CAN DO…

Since relocating in 2001 to Four Seasons at Upper Freehold Gated Active Adult Community, I have become an enthusiastic cheerleader! Having first-hand knowledge and sharing that knowledge has contributed towards a reputation for achieving results, not just promises! Listening, delivering necessary information, helping to negotiate the best possible price and terms and making sure all details are covered help to have a successful closing. This comes from over 40 years of real estate experience. 

  • COMMUNITY INFORMATION

Four Seasons at Upper Freehold is located in rural Upper Freehold, southwestern Monmouth County. The 387 single family residences naturally blend with the surrounding rural landscape and the neighboring Borough of Allentown with its many antique shops and boutiques. For the young at heart, Six Flags Great Adventure Amusement Park and Safari is also nearby. Commuting lies within 60 miles of New York City and 35 miles from Philadelphia with easy access to Princeton and the Jersey Shore. Neighboring Quaker Bridge Mall and Freehold Mall for all your shopping needs and the Hamilton Marketplace nearby.

  • WHAT CLIENTS AND CUSTOMERS ARE SAYING
06/07/2018 - Sold a Single Family home in 2018 in Allentown, NJ.

Rosemary was a pleasure to deal with - very responsive, professional, knowledgeable and went above and beyond for us. She made a very overwhelming situation of selling my parents' house into a manageable, do able process that I couldn't even fathom getting thru at the onset. The house was sold and closed in a month's time and I am still pinching myself that we got through this huge undertaking so readily. This truly is thanks to Rosemary. She is wonderful!

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04/20/2018 - Sold a Single Family home in 2018 in Allentown, NJ.
Rosemary was very easy to work with and gave me a lot of good advice for selling a home within Four Seasons / Allentown (some of which I should have taken sooner!). She and her husband (who is also a Realtor) were incredibly helpful with many of the small (and some not so small) details of getting our house prepped and sold. Because I lived a ways away from the house I was selling, there were many times when Rosemary or her husband were able to save me a trip to handle something at the home while it was on the market, showing that they will do whatever it takes to help make a sale go smoothly, and I greatly appreciate their help. Rosemary responded quickly to all of my questions via phone, email, or text; I never waited long to hear back from her no matter the day or time.

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10/07/2016 - Sold a Single Family home in 2016 in Allentown, NJ.

I am thankful I chose to have Rosemary sell my house. Through every step of the process she kept me informed, made useful suggestions and helped. Here are just four examples. Just before we put the house on the market, she made a suggestion to relocate a piece of furniture. And yes, after moving it, the room looked larger. The house was listed on a Wednesday and by noon on Friday I had a full price offer. When the new buyers suggested the landscape plantings were overgrown, she had her husband come over to trim the worse offenders. At the end of the process, after the house had been cleaned for the new owners' walk-through and because I had had to move out of the area, she and her husband put out the remaining five cans of trash. After the closing I got a call from her because some of my mail had been delivered to my just-sold house rather than having been forwarded. She offered to take it to the Post Office for forwarding and to alert them to the problem. These are just four examples of the many ways Rosemary (and her husband) helped make the difficult process of selling my house as painless and as smooth as possible. Thank you Rosemary (and husband)!!

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09/21/2015 - Sold a Single Family home in 2015 in Allentown, NJ.

If you are selling a house in this area, use Rosemary as your agent. She worked tirelessly to get our house sold. She was very involved, handled many, many details for us, and was extremely knowledgeable about the value of homes in the area. She even arranged for her husband to help us out in several instances. She kept me updated and led us through every step of the process, explaining what we needed to do and how things would progress. We no longer live in the area and without her, we would never have been able to handle the sale long distance. She was wonderful to work with.Less 

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09/09/2015 - Sold a Single Family home in 2015 in Allentown, NJ.

Rosemary pays attention to details and knew exactly the type of exposure the home needed to get the job done. We had the home listed for sale 2 other times with another realtor with no results. Rosemary felt that the home needed to be professionally photographed and she was right. The photos brought in numerous buyers and the home sold in a few weeks. I would recommend Rosemary to anyone who wishes to sell their home in a timely manner for a fair price.