Now we have picked out a home it’s time to submit the offer!
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Making an Offer: How It Works
The process is actually quite simple. Your real estate agent will take care of a lot of the back end work on paperwork and such. But there are a few things that may happen when you submit your offer.
ACCEPTANCE
They may accept your offer. Congrats! You will immediately start the closing process.
REJECTION
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Your offer may be declined. But don’t fret, this happens all the time. There are others homes out there!
COUNTEROFFER
A different price may be offered to you. You can then either counteroffer again or accept their counteroffer.
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Do I Offer More Than the Asking Price?
The answer is: maybe.
If the home has multiple offers and is in a desirable area you may be more successful to offer more than the asking price.
Do I Offer Less Than the Asking Price?
Again, maybe.
If the seller is in a rush to move and needs to close rather quickly you can use this to your complete advantage. Furthermore, if the market has an excess of supply you will have a greater chance of winning with a lower price.
Always Moving Forward,
||| Max
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