~ By Mike Galinac, Exact Match Properties ~
I’ve been selling Michigan real estate for almost 31 years, and if there’s one thing I’ve learned, it’s that it doesn’t matter whether you’re buying real estate in Michigan or on Mars, this next topic will always be relevant. Even when the market shifts from the current strong seller’s market, to a more buyer-friendly market, you’ll want to construct your offer in such a way that the seller can’t help but gravitate toward you and your terms. And when we talk about the “terms” of the offer, I bet you can guess what the most important term is.
Tip #3 – Price is always going to be the first thing that the seller looks at, but if it’s not backed up with a strong approval letter, a strong appraisal guarantee (I’ll cover this in more detail in my next post), or cash in the bank, it may not be the deciding factor. You’re going to have to put your best foot forward, especially if you really don’t want to lose the house that you’re bidding on. The price decision will need to be made based on certain things, such as how many other offers are on the table, whether there is an offer deadline, how many days the home has been on the market and whether the home is currently priced at, above or below the fair market value. Your real estate agent will do their homework and advise you accordingly. If you decide to push all of your chips in, make the highest offer that won’t cause you to kick yourself later, if somebody else decides to bid higher.
It’s important to note that every situation is different, with different homes, different people, different priorities and different challenges. Therefore, it’s extremely important that your real estate agent is highly skilled and very experienced, to give you the best possible chance to succeed. My team and I, here at Exact Match Properties, are ready to assist you, should you need effective representation. Please don’t hesitate to contact us for a no-obligation consultation. Thank you for reading! Mike Galinac
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