Why Should You Submit a Competitive Offer on a Home?

by Brenda Wilson 11/24/2019

If you're on the lookout for your dream house, it pays to operate as a competitive homebuyer. And if you find your ideal residence, you should not hesitate to submit a competitive offer to purchase this house.

Ultimately, there are many reasons why you should submit a competitive offer to acquire your dream house, and these include:

1. You risk alienating a seller.

Dozens of homes are available in cities and towns across the United States, yet an individual's dream house may only be available for a limited time. Therefore, when it comes to submitting an offer to acquire your dream house, it usually is a good idea to put your best foot forward. Because if you submit a "lowball" homebuying proposal, you risk receiving an instant "No" from a seller.

Although you likely want to avoid breaking your budget to purchase your ideal residence, you also should strive to avoid a lowball offer. Fortunately, an informed homebuyer can learn about the local real estate market and use this information to assess the prices of houses in a particular area. And with comprehensive housing market data in hand, this homebuyer can submit an offer to purchase that may match or exceed a seller's expectations.

2. You may lose your dream house to a rival buyer.

Once you discover your dream house, you should submit a competitive offer on it right away. If you wait too long to provide a competitive homebuying proposal, you risk losing your ideal residence to a rival buyer.

Remember, the housing market is fierce, and the top residences typically will sell quickly. But if you submit a competitive offer, you can reduce the likelihood that you'll squander the opportunity to acquire your dream house.

3. You may wind up having to spend more to acquire an alternative house.

The real estate market fluctuates constantly, and failure to submit a competitive offer on a house today may prove to be a costly mistake. In fact, if a buyer's market transforms into a seller's market, you may be forced to pay more to purchase your ideal home in the foreseeable future.

For those who are uncertain about what differentiates a competitive offer to purchase from an ordinary homebuying proposal, there is no need to stress. If you hire a real estate agent, you can get the help you need to submit a competitive homebuying proposal any time you choose.

Generally, a real estate agent will serve as an expert guide throughout the homebuying journey. This housing market professional will teach you about the real estate sector and help you narrow your home search. Then, when you discover your dream house, a real estate agent will help you put together a competitive offer to purchase. He or she will even negotiate with a seller's agent on your behalf to ensure you can get the best price on your dream residence.

Ready to simplify the process of buying a house? Collaborate with a real estate agent today, and you can receive extensive support at each stage of the homebuying journey.

About the Author
Author

Brenda Wilson

THE SARASOTA PARADISE GROUP - 2018 Craig & Brenda have successfully listed HOMES & CONDOS located in LAKEWOOD RANCH COMMUNITIES, and WATERFRONT, BEACHFRONT, GOLF COURSEs including many unique properties requiring their customized expertise. Many of their clients have relocated from around the globe including year-round and part-year owners. Craig is a Broker Associate and earned the Certified Luxury Home Marketing Specialist and the Certified Distressed Property Expert designation, and is also a New Home Specialist. Brenda is a licensed Realtor and earned her Certified Luxury Home Marketing Specialist along with numerous other designations. The Wilsons have a proven success record with tremendous staff & systems. As top listing agents, their marketing plan is professional, proven and includes an aggressive multi-pronged internet marketing campaign. Married for 34 years, Brenda & Craig were both raised in upstate New York near Binghamton, where Craig graduated college with an accounting degree. After remodeling several homes of their own, they moved to Virginia Beach in 1986 to partner a start-up financial service business ALMOST A BANC, offering check cashing, money orders, Western Union and packaging services. Building to 19 locations with over 120 employees and gross revenues in excess of $3 million per year, they sold the company in February 1992 to a Bear Stearns subsidiary. Craig held his Virginia Real Estate license and negotiated dozens of commercial leases for check cashing & tax centers. In 1991, Brenda & Craig started Quick-File Tax Network (similar to H & R Block tax preparation centers). Quick-File Tax Network quickly expanded to 29 offices in Virginia & Maryland – offering Tax preparation services & refund loans. With 100+ employees each season, they processed 4,000 – 7,700 tax returns per season, and then sold the business in 1995. Their custom designed FEEBASE database, training & form kits were licensed by Mellon Bank for use by thousands of other tax offices around the country for several years. In 1994, Craig went to work as a Sales representative for McCarthy Enterprise that included relocating to Rockport, Texas and lots of travel, selling time management systems & journals to manufacturers of leather & vinyl planner covers. During this same timeframe, Brenda started her career in Real Estate, working for Coldwell Banker, and then moved to a small luxury brokerage Key Allegro Real Estate in Rockport. Brenda was a Rookie of the Year in 1995 proving herself a valuable asset receiving various awards for top production. In July 1999, the Wilsons made their move to Tulsa, Oklahoma to pursue Bible College for Craig and start their real estate career together. Craig graduated Bible School and worked part time as a Children’s Pastor for 3 years. During this same time, Brenda & Craig quickly evolved into a top real estate team averaging over 60 sales per year in 2000-2004. During their last year in Tulsa, the Wilson Hometeam was the number one Keller Williams Real Estate team in the Tulsa Market with 80 sales. Systems were fine tuned, followed by many happy buyers and sellers. In July 2004, the call of the sunny Gulf Coast climate and sales opportunities led Brenda & Craig to relocate to Paradise on Florida’s gulf coast in the Sarasota-Bradenton area. They transferred to Keller Williams Realty Select and have consistently earned many top production awards annually for the past 13 years. Craig and Brenda's team continues to evolve as their daughter, Jessica Coay, became team administrator in 2016 – working at the office 3 days a week. In 2017 she activated her real estate license and has now joined the team working with buyers and sellers. In 2017, they joined with Fine Properties and have also hired Judi Wilson as a full-time team administrator. The Sarasota Paradise Group gives you the advantage of having multiple agents to hold open houses, show property, and watch the market continuously to assist our clients navigate their real estate needs! If you’re considering selling or buying a property, let Brenda & Craig show you the benefits of working with an experienced team with a proven plan for maximizing your return. Call Craig & Brenda at (941) 321-8686.