Making an Offer on a Home? Avoid These Mistakes

After much searching, you’ve finally found a home you love and you’re ready to make an offer. How you navigate the offer process will determine whether your offer is accepted and you get to move into that home you love so much, or if you lose the home altogether, which is why it’s so important to understand what not to do during the offer process.

A recent article from realtor.com outlined the key mistakes you’ll want to avoid during the offer process, including:

• Dragging your feet. If you find a home you love, it’s important to make an offer quickly. It’s a competitive market and you don’t want to lose the home by dragging your feet and waiting too long to submit your offer.
• Using an obscure lender. When sellers and their agent review your offer, they want to know that your lender is legit. As such, you should consider using a well-known local lender or bank, instead of an obscure out-of-state lender no one’s ever heard of, which could make the agent and sellers hesitate to accept your offer.  This is especially true in Mammoth Lakes as many condo complexes make it more challenging to get a loan.  Our preferred lenders can get it done.
• Lowballing. If you really want a home, you don’t want to lowball your offer. Not only do you risk insulting the sellers, but in today’s competitive market, chances are there’s another buyer out there willing to pay a higher price. If you want a house, go in with a strong offer from the get-go.  This is even more important in today's market as many sellers are accepting the best offering and not counter-offering back to all buyers.