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Tips to Making an Offer to Purchase a Home

How informed a home buyer is when making an offer on a home can play a huge role in the decisions that they make after they purchase the home, and when they sell it. When you invest in a home, it is important to think long term, because you make money on a piece of property when you buy it, not when you sell. Sure you get paid at the closing table, but because you picked the right home, in the right location, and at the right terms, you a are able to walk away from the closing with money in your hands.  So, when you find that home that fits your needs, it is important that you gather as much facts as you can before making an offer on that home. If you have not found a home yet, use our home finder tool to search for Greater Greenville SC Homes for Sale. Here are some tip on how to make an offer on a house in an informed way.

Appoint a Realtor®

I really don't recommend buying a home or making an offer without a Realtor. It is important to understand that a good Realtor is an invaluable resource to a home buyer. A real estate agent can make a difference in how successful you will be when making an offer on a home. It is always a good idea to have a professional representing your interests in a transaction as important as buying a home. A good real estate agent can help you avoid the pitfalls that most home buyers experience while investing in real estate. Your Realtor can assist you with gathering all facts that will enable you to decide the best price to offer the seller.

Get Pre-Approved

If you are not already pre-approved for a loan, go ahead and contact your bank or a local mortgage lender to get this done. You may want to talk to two or three different lenders so that you can compare interest rates and lender fees. Your agent will probably have local lender contacts they can recommend to you. Armed with a pre-approval letter, your offer will be taken more seriously by the seller when you are negotiating. It also allows you to find out how much you can really afford. In a Greenville SC real estate transaction, you almost always have to submit your pre-approval letter or proof of funds (if paying cash) with your offer. So, try to get this done as soon as possible.

Ask Questions

Find out why the seller is selling the home. But, keep in mind that the seller's agent may not want to disclose this information, but if you can get this information, it could help guide you in deciding how much to offer. Find out how much the seller paid for the home, and how long they have owned it. Your agent should be able to gather this information for you.

Find Comps

Your real estate agent will play a huge role here to determine how much to offer, and the trend in the neighborhood. To do this, your agent will need to find recently sold comparable homes in the area. Preferably, the ones that have sold in the last six months. Then you can compare them to see how they stack up against the subject property. Your agent can retrieve these comparable homes from the Multiple Listing System(MLS) or by retrieving sold data from the county tax records. Once you have this data, you can see the list price to sale price ratio, days on the market, are the prices going up, or is it a declining neighborhood. With this data, you will have a clearer picture of whether the home is priced right, over-priced or under-priced, and where to start with your initial offer.

Determine How much to Offer

When making an offer on a house, you may be tempted to make a low ball offer to test the seller's motivation temperature. While this may be a good idea in a buyers market, it may work against a buyer in a seller's market or in a multiple offer situation. Use the facts that you have available to determine what a fair offer is without insulting the home seller, or giving too much.

Submit you offer

If you are buying a home in Greenville South Carolina, you will need an earnest money deposit. While earnest money may not be a requirement, it is a show of good faith, and will be credited back to you at closing. When submitting an offer, don't expect that the seller will accept it, unless you are making a full price offer. If you are working with a good agent, he or she will be representing the best of your interests from the very moment the present that offer to the listing agent or the seller. He or she will negotiate diligently on your behalf.

Negotiate

Negotiating one of life's biggest investment does require some skills. Price is one thing, but you can negotiate other terms of the contract as well. Like, closing costs,  updates or upgrades if you are dealing with a new home. You can use the give and take technique here to secure a win-win. While negotiating, keep in mind that there is a chance that the home seller may be in a situation where they can not afford to sell for less than their mortgage balance, so don't be surprised if the seller, no matter how high their motivation temperature is, can not sell the home for what you want to pay for it. Go here to get tips to successful real estate negotiations.

Please contact us at 864-438-5050 for more information about Greenville SC real estate and homes for sale or to work with one of our Greenville SC real estate expert Realtors.

Hot New Greenville SC Homes for Sale Listings

$525,000
3 Beds 2.5 Baths 1538858 MLS
WHOLE-HOME GENERATOR! This single level home truly has it all – NO HOA, prime location, whole-house generator, Anderson School District 1, a greenhouse with sink and vent fan, 2 car garage with AC, lawnmower storage building, a 10x30 shop with power & water, RV/boat/trailer covered storage, a functional and versatile floor plan, a fenced in oasis-like yard, & STORAGE! The hybrid Bermuda grass is maintained by a full irrigation system in the front and back yard. This impeccably maintained home features a formal living room with a bay window that leads into a flex space currently used as a double office. The sizeable kitchen has a built-in pantry, an island with bar stool seating and plenty of space for a dining table. A floor-to-ceiling stone fireplace with newer gas logs in the gracious family room will keep you cozy on chilly days and nights. Two bedrooms share a full bathroom with a built-in laundry hamper and a walk-in shower. The primary suite boasts a full ensuite bath with separate vanities, built in laundry hamper, walk-in closet, and a jetted tub. The laundry room features a sink and cabinets for storage! A generously proportioned flex/recreation room features 3 different storage areas with various styles and sizes of shelving and built-ins to store all of your necessities! The tranquil back deck includes a pull-down sunshade & ceiling fan to keep you cool while enjoying the private and pristine landscaping, bird watching, and the mild Carolina weather. There is also a connection for your gas grill! The 10x30 building is fully insulated - heated and cooled with built in cabinets, utility sink, water filter, internet, and security system with a monitor! There is an additional storage building with power that is perfectly sized for your lawnmower. The 12x20 RV/boat/trailer carport has power, lights, and water with an insulated spigot. This special home has so many delightful extras!

617 Jameson Drive, Piedmont

$379,999
4 Beds 2.5 Baths 1538840 MLS
**Charming 4-Bedroom Home in the Heart of Taylors, SC** Welcome to this delightful 4-bedroom, 2.5-bathroom residence, perfectly situated in the vibrant community of Taylors, SC. Just moments from the city's amenities yet comfortably outside the hustle and bustle of the city limits, this home has the best of both worlds. Step inside to discover a spacious, inviting interior that seamlessly blends modern convenience with timeless charm. The floor plan includes a cozy living area, perfect for family gatherings and relaxing evenings. Each bedroom is generously sized, providing ample space for rest and personalization. The heart of this home is its beautifully maintained kitchen, which comes equipped with modern appliances making meal preparation a joy. The adjacent dining area offers a great space for entertaining, with natural light flowing in from large windows. One of the standout features of this property is its fenced-in backyard, providing a private oasis for outdoor enjoyment. The sturdy privacy fence ensures a serene and secure environment, ideal for children and pets to play freely. Enjoy the bounty of fruitful pear and peach trees that grace the yard, adding a touch of natural sweetness to your outdoor space. For those with a green thumb or a passion for gardening, the included greenhouse is a fantastic addition. Whether you’re an experienced gardener or just starting out, this greenhouse offers a wonderful opportunity to cultivate plants and herbs year-round. Located just minutes away from everyday amenities, including shopping, dining, and entertainment options, this home is both convenient and tranquil. With its ideal location, spacious interior, and delightful outdoor features, this Taylors gem is ready to welcome you home. Don’t miss the chance to make this house your home—schedule a visit today and experience all that it has!

201 Stone River Way, Taylors

$750,000
4 Beds 3 Baths 316065 MLS
This lot has room for storage for a few boats, a double car garage & driveway heading down to the house has ample room for cars. The house has a large front lot with a screen porch on the left side of the house with lights and a fan. There is a private entrance to the house through the screen porch. Inside the house the painting is updated, the bathrooms are updated, the kitchen is updated, the roof was installed by gilstrap roofing in 2023, the septic system was upgraded by Rock Solid Septic in 2023 and given a 1 year warranty, the HVAC is comprised of three units. One unit for the kitchen, living area, 2 bedrooms and sun room , one unit for the master bedroom and master bathroom and a 3 rd unit is a non ducted unit for the upstairs bedroom & bath . The hvac was installed in 2023 by Air Command of Piedmont. In the sun room solar blocking curtains are installed on 7 floor to ceiling windows allowing great views of lake bowen while keeping the sun’s rays out of the house. These blinds can be drawn up or down with the touch of a hand. Off the kitchen dining area a false book shelf door is hidden & may be creatively used by the home owner. In the master bedroom on the first floor the room is large and combines a sleep area, sitting area, bathroom with double vanity sink, shower, walk in closet and is plumbed for a bathtub which was removed during updating. Walking out of the double doors in the master bedroom there is a large covered deck with a fan and lights overlooking the lake outside the master bedroom. There is a set of stairs leading out to the backyard. Outside the master bedroom there is a hallway where a walk in laundry room with storage. The main area of the house consists of a new kitchen, quartz counter tops, tile backsplash, built in wine holder, cabinet space, kitchen island for 4 chairs and all matching new appliances including the fridge. There is a deck partially covered with fan and lights off the kitchen and living area facing the lake. On the kitchen side of the house two (2) bedrooms each with wall to wall closets share one hall bathroom with a tub and shower combo. This bathroom has an unfinished area for a closet or shelves. In the hall area between the bedrooms there is an attic ceiling fan ( cut it on ) if you ever want to bring in the outside air. An upstairs bedroom with ceiling fan, closet, private hvac has its own full bathroom . A balcony off this bedroom is through double glass doors opening onto a view of the lake. Smoke detectors are located throughout the house. In the bathrooms and washer dryer room the floors are tile, all other floors in the house are hardwood oak floors. The back of the house facing lake bowen is located on a finger off the large water and has a western view. There is a concrete walkway heading to the dock. The dock has room for a jet ski and has two covered areas for boats to stay out of the elements. These two boat spaces have a manual pulley system to raise and lower the boats out of the water.

264 Oliver Dr, Inman

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