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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

$589,900
4 Beds 3 Baths 312726 MLS
Welcome to your new oasis, where luxury, comfort, and nature harmonize beautifully! This exquisite 4-bedroom/3-bathroom home offers modern amenities and stunning outdoor spaces. Approaching the property, you'll appreciate the convenience of an extra-long driveway, which provides ample parking for multiple vehicles. The meticulously landscaped, fully sodded yard frames the home with vibrant greenery, creating a serene and inviting atmosphere. One of the many highlights of the house is an impressive 13' x 32' covered patio, accessed through double sliding doors from the living/dining area. This versatile outdoor sanctuary is perfect for entertaining guests or enjoying peaceful moments with family. Convenience meets elegance with a garage side door, offering direct access to the yard and the driveway. A paved sidewalk encircles the house's right and back sides, providing easy access to every corner of the property and enhancing its overall appeal. Upon entering the house, you're greeted by impressive 11-foot ceilings in the hallway and living areas, creating a spacious and inviting ambiance. The thoughtful split floor plan enhances privacy, with two large bedrooms strategically positioned on opposite hallway sides. These bedrooms share a beautiful tub/shower bathroom featuring custom-made closets and coat closets for increased storage. Recessed lighting and a fully tiled fireplace accent the living room, adding a touch of modern elegance. The kitchen features quartz countertops, a subway tile backsplash, and a huge island that serves as the centerpiece for culinary creations and casual dining. Extra-wide stairs lead to a versatile bonus room, perfect for accommodating various needs such as a separate living quarter, media room, or play area. The large laundry room offers convenience with plenty of space for storage and organization. The master bedroom is a serene sanctuary. It boasts two large windows that overlook the backyard, allowing for abundant natural light. The ensuite bathroom features a double vanity and a beautifully tiled shower, adding to the home's allure and functionality. Situated in the desirable Inman area, with no HOA, this home offers a perfect balance of luxury and practicality. Take advantage of the opportunity to make this exceptional property your own.

1645 Dickson, Inman

$475,000
4 Beds 3 Baths 20276330 MLS
Rare opportunity to own a historic, cash-flowing part of Easley history, walkable to downtown Easley! As you head down Highlands Road, this dollhouse is loaded with historic charm and is sure to catch your eye! However, what you may not realize at first glance is that this property, on nearly a half acre loaded with medicinal plants, original built-ins throughout, original crystal door handles, original bathroom tile, bird sightings of every shape and color, bees and a covered carport and outbuilding, ALSO boasts three stories and nearly 4,000 square feet of overall living space inside! Including a fully separate, cash-flowing rental with separate entrance. The front entrance of the property includes a true foyer with coat closet! Beautiful original hardwoods flow through the large living area with wood-burning fireplace on the first floor of this incredible home. Off the living area sits both a sunroom with glass door access to the charming side yard, and also flows seamlessly into the large formal dining area. Next up is the keeping room, with large windows inviting you to sit, sip tea and enjoy watching the birds bathe in the sunlight! Past the keeping room is the expanded and updated kitchen with granite countertops, stainless steel appliances, heading through to the back sunroom with washer/dryer connections and carport access. Down the hall you’ll find a large owners bedroom with TWO closets and HUGE windows, full sized bath, another bedroom or study complete with two entrances, original rotary phone nook and access to basement level or upto the vacation rental. Downstairs, a large wood paneled space, with its own full sized restroom, makes for a fantastic man cave, play room or she shed! The back half of the basement level allows for easy access and viewing of all the major systems, from gas to electrical to hvac air handlers and ductwork - easy and straightforward to maintain! Back on the top floor, a walk-up staircase around back brings you into an ample living area and through to a u-shaped hall with storage room, full sized bath, two large bedrooms and large kitchen. Book your private showing today and make your primary residence a multi-generational home or an investment that works for you!

102 Highland Road, Easley

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The Listings data contained on this website comes from various participants of The Multiple Listing Service of Greenville, SC, Inc. Internet Data Exchange. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed. © 2024 Greater Greenville Association of REALTORS®. All Rights Reserved. Last Updated