Consider This Before Making an Offer on a New Listing

Many home buyers carefully consider the timeliness of making an offer on a new listing. However, how long should you wait to make an initial offer? How long should you hold back before submitting a bid? Here's some tips to keep in mind.

1. Use caution when making early offers. Timeliness matters! Don’t put in an offer too early or late. Listen to your agent.

2. Make a fair proposal. If the listing has been active for less than three weeks, you don’t want to make a lowball offer. Don’t make it too high, either. The longer a listing sits, the less desirable it becomes.

   Demonstrate your appeal. Share your appeal with your agent. Your agent needs to know you like a property, so they can help you win it. Be honest!

3. Understand your market. Although there are two separate markets for buyers and sellers, different markets exist for differently priced properties. For instance, properties under $250,000 can expect to sell quickly in today’s climate. Because there is a high demand for these homes, buyers will face more competition.

If you have any questions, please contact me by phone or email! I would love to talk.