Why Write The Purchase Offer Today?

As an experienced Realtor, I have seen people lose the house of their dreams because they hesitated just one day.  Yes, just one measly day. 

With Las Vegas home prices slashed by as much as 34% since the peak in March of 2006, this market demands that buyers make decisions quickly.  The last thing I ever want to do is to rush any client.  But I've also seen the disappointment that can result when someone misses out on a truly great home in Las Vegas, Nevada.  

A desirable home priced to sell will move FAST. You need to be aware that if you are not willing to act swiftly, your competition for the home may be.  It can be devastating to lose a great house that's priced to sell because the offer did not get in fast enough, but it does happen - more often than you think.  When the house is the right house, and you know when it is the one you were looking for, and here it is...I always encourage my clients to act swiftly.

Why It's Important To Write The Offer TODAY:

A sellers lender just approved a sale for less than owed on a property that fits your criteria and pre-approved budget; the buyer couldn't wait for approval and walked.  When a seller/asset manager/servicers' loss mitigation specialist finally receives the sellers servicer(s) investor(s) approval to sell for less than owed, an automatic email alert will be sent to my pre-qualified VIP buyers who are actively looking for that type of home and in that approved price range.  This bank approved selling price is sometimes far greater than the original listed price. (I've seen homes that were listed as short sales for $75K and when the bank finally agreed to accept less than owed the sellers lenders minimum payoff was approved at no less than $187K.  If the home and selling price is appealing, it's important to get your offer in before someone else has the same idea. If you'd like me to price a Las Vegas home you're considering to sell or purchase based on current market conditions and closed transactions, please contact us at 702-677-8796 or visit Las Vegas Home Prices.

Your offer may deter other buyers.  Some buyers dislike bidding wars, so many will shy away from a home with multiple offers on it.  In our current market, buyers are expecting bidding wars on Las Vegas REOs and short sales; sometimes the presence of another offer will make buyers and their agents shy away.  Accordingly, your early offer may keep others from even bidding.  (Note this does not hold true for low ball offers, if you submit a low ball offer, the listing agent will simply tell other buyer's agents that the offer they have in hand is low and it will not generally deter other buyers from bidding.)

Eager can be a good thing.  Sometimes buyers don't want to seem eager.  They don't want to come off like they want the home too badly.  However, while playing "hard to get" may be an effective strategy for some personal relationships, I don't think it translates as well into the home buying arena. After all, most people don't spend hundreds of thousands of dollars for homes they are indifferent to, so if you write an offer today or write it tomorrow they are still going to assume that you want the home.  

As an experienced listing agent, I encourage a seller to take a solid offer from the most motivated buyer.  Being the first to arrive conveys that you are motivated.  Accordingly, writing the offer today on a well priced desirable home can indeed be a smart move.

Logistics matter.  Waiting until Friday to submit an offer means that your offer probably has to withstand weekend buyer traffic and interest. In a pre-foreclosure or traditional sale where a "real" seller is responding, I always limit the time period that the offer can be considered to speed along getting an answer from the seller.  If you make the offer today, I will hand deliver the offer to express your readiness and motivation to close.   I've beat out other offers just by being the first offer faxed to an out of town seller because they didn't want to pay to receive another fax the next day.

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When you are looking for a great home in today's competitive Las Vegas or Henderson, Nevada real estate market, you need an experienced Las Vegas Realtor/Real Estate Specialist to guide you through the process so that you have a successful home buying experience.  Set up a complimentary consultation and begin the process of buying that great home of your dreams

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 Linda Strasberg, Realtor, UNRE

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