The Importance of a Reasonable Purchase Offer

Right now in San Diego we’re experiencing a shortage of homes for sale. When the market is balanced, we have 6 months worth of inventory. As we go through 2017, we have just over 2 months worth of inventory. As a result, buyers are competing for every correctly priced home.

Most San Diego homes are priced at – or even below – the price at which they will sell. So buyers who come in hoping for a large discount are asking for disappointment.

Sellers don’t have to entertain low offers, so if they feel an offer is unreasonable, they won’t counter. They’ll just accept another offer or counter to the buyer who made a reasonable offer. The unreasonable offer will be marked “rejected.”

Next, a low offer could alienate the sellers so much that they won’t counter even if there’s only been one offer.

Remember that for a person who has lived in a home, emotions play a significant role in the decision-making process.

Listing agents always advise sellers to view the sale of their home as a business transaction. But it is difficult for most, especially if they’ve lived in the home for many years.

How can you come up with a reasonable offer on a San Diego home?

Trust your buyers’ agent. He or she has a finger on the pulse of San Diego real estate – and knows when a house is or isn’t priced at market value.

Your home buying decision should be based on finding a house in your financial “comfort zone” that will feel like home. When you find one that says “I’m your new home, you must live here,” don’t play games with the price you offer. If you do, someone else will soon be living in “your” home.

When you’re ready to find your new San Diego home, get in touch.

We’ll not only speed up the process by narrowing your search to homes that fit your wants and needs, we’ll help you determine an offering price that will help you own the home you choose.

You can reach us by writing td@tomdunlap.com or by calling 619-929-1413.