Home Buying – Low Offer Price

Home Buying – Low Offer Price

  There is nothing more exciting than buying your own home and for Rhode Island coastal real estatemost of us it is the biggest expense we will ever make.  Many home buyers that come to me believe that a foreclosure is the best deal they could get. They think they can buy it for little money and they can get it for a bargain price.  NADA!  Not anymore.  Before we get to the low offer price and getting to the Buy of the Decade, we need to go over good ground rules for Home Buying.

The initiation into understanding how to ‘home buy’ comes with a fair set of home buying rules.  And they are all for your protection.Here they are:
  • You are pre-approved to buy at a certain price by a lender prior to looking at homes
  • You have enough money to put down, preferably 10-20% and you have an emergency fund
  • You have enough money to buy a home (closing costs)
  • You understand that location is an important part of the home buying equation
As a buyer’s agent I am charged with what it is to be fair, do one’s due diligence for the client and protect their interests well.   I am fortunate that I am able to choose my clients.  Buyers who want to work with me that have unreasonable expectations of home ownership are shown a wonderful escape route.  In all fairness, I am only a tough cookie when it comes to home buying contract negotiations for my clients and they love it!

My time and your time is worth money so I like to do it right.  There is still a real sense out there, in buyer land, that all offers should be low ball offers when home buying.


Why you ask?  Well I didn’t come up with the template but buyers are reading and listening to news that tell them to do it.  It is not the right way and it does not work in the current real estate market.  The reason being there are many buyers looking to buy.  They are ready to make the right, good offer with that first offer.  Sometimes you do not get a second chance.  And you lose out on the house.

home buying in ri real estateWhat makes the difference? Understand that as a buyer you really need to work with one real estate agent!  Not call every listing agent on the hot property that came up on your home search today.  The listing agent, I will say this again and again, works for the Seller not the Buyer.  It is so important as a home buyer to have your own designated representative protecting ‘Your’ interests when home buying.  This is part of what I do as a Rhode Island coastal real estate agent and it costs you Nothing!
As a buyer’s agent, I look at the location, schools, surrounding homes and their condition, analyze off market properties through recent home sales and have a good idea where your offer price should be.  No picking any offer price out of the air (Who told you always offer 10% below asking price??).  The price the seller has on the house could be too high, too low or a selling market price.  That is what I help you determine.  Representing your home buying interests is number one.
So want to learn more?  Call me at 401.529.7849 or email me at Ginny@RiHouseHunt.com today.  Let’s discuss the basic steps in Rhode Island real estate you can take to home buying and what the issue is with the low offer.  Home Buying – Low Offer Price.
 Ginny Lacey Gorman is your go to waterfront Rhode Island agent for real estate in RI and beyond…knowing the geographic area, schools, happenings and important tidbits of local information.  Email me at RiByTheBay@gmail.com to make an appointment to find the home of your dreams too!
Waterfront, oceanfront, luxury and coastal Rhode Island real estate are my specialty but all of RI is my backyard.  When you are in need of a real estate professional and specialist for your buying, selling or relocating needs and an internet savvy marketer who sells RI houses in this real estate market call Ginny at 401.529.7849.