Should You Make an Offer on a New St. Louis Listing?
You have found the home of your dreams but it is a new St. Louis listing and you are concerned if you make an offer too early it could be a wrong amount; but wait too late and you may never get a chance at the home. To help you make the right choice when deciding whether or not to make your offer be sure to consider these three things when it comes to a new St. Louis listing.
Be Careful With Early Offers
When an offer comes in early sellers will at times feel that the offer is too low and they won’t accept it. However, if a buyer does their homework and makes a good bid most realtors will advise the seller to accept the offer. Remember: sellers want to sell their home as fast as possible and at the highest price. If you make a reasonable offer they will most likely accept it, especially if they are motivated.
Show how Much You Want the Home
The more appealing you look as a buyer the better the chances you will get the home, even if it is an early offer. This can be done by not having too many contingencies when you make your offer, like needing to wait to sell your home or having to move in by a certain time. Also by including a 20% down payment your offer will seem an even better candidate.
Know Where You Are Buying
Depending the type of market you are in will depend how quickly you will need to put an offer in. In some St. Louis areas, a home will go on the market on Thursday and by Monday be under contract. In these areas you need to make sure you put in an offer early or else you will miss out on the home. However, it is important to keep in mind if you do make an early offer you will most likely not get a good deal. Sellers at this point will not consider low offers.
Many real estate agents tell people that if they like a house they should make an offer. With this line of thinking, waiting to make an offer is not always the right choice. However, they do caution that if you are not prepared, making an offer at the wrong time is not good either. Make sure you have done your homework, take tours around other homes, and have their finances in order before making an offer on a new St. Louis listing.