How To: Make an Offer on a High End Home– Searching for and buying a high end home can be intimidating. Don’t let a large price tag influence your buying power! Make sure to utilize your real estate knowledge and bargaining tools to your advantage. Follow these tips on making an offer on a high end home.
- Enlist the help of a Real Estate Agent: An agent can be your most useful tool when searching for and buying a high end home. Some agents specialize in the buying and selling of higher end homes! An agent in this field can help you find the right high end home and will make sure that you are making a smart and suitable offer.
- Befriend the Seller: Once you have found the high end home you’ve been looking for, get to know the seller! Although this is not a necessity, it may help you gain ownership to your next dream house. A seller may accept an offer from a buyer who has made a personal connection- a buyer that they can see living in their home. As a buyer, consider writing a letter to the owner thanking them for their consideration. Add what it is about that home that you enjoy so much, and why you would like to be the next owner. Going out of your way to get to know the seller could set you apart from other buyers.
- Escalate Your Offer: Buyers, with the help of agents, know that sellers will usually come back with a counteroffer after the first offer. When determining that first offer, set aside an absolute amount you are willing to spend. This will allow you to escalate your offer once the counteroffer comes through. Tell the seller that you are willing to increase your offer by X amount over any other bid. The seller is likely to see you as the most desirable candidate.
- Don’t Rush the Process: It is important to remember that higher end homes can come with a longer buying process. Most high end homes have more amenities (i.e. a pool, a security system, more land, etc.) and will have to go through a longer inspection process. Just remember to be patient! The extra wait will be worth your while, as you will be certain that the new house you are buying is up to code.
Do you have any tips on making an offer on a high end home? Have you sold a high end home and have some advice for buyers? Let us know in the comments below!