For most buyers and investors who are interested in a San Diego Condo, the fun part of the transaction is filtering thru all of the fantastic opportunities currently for sale on the market. Once you have finally chosen a San Diego condo that meets all your preferences and criteria, the negotiation side of the transaction begins. Now it is time for the buyer to put the terms on paper and prepare the “winning offer”. Writing a good offer can make all the difference in whether or not a buyer is able to put together the successful deal for a San Diego Condo. At 92101 Urban Living when we are assisting our buyers with this process, there are several points we encourage are always considered.
-Choose an experienced agent to work with who has a good knowledge and understanding of contracts and pays high attention to details: He or she is there to represent your best interests and make sure all contract dates and timeframes are met. Good agents can foresee and sometimes prevent issues before they arise during escrow from experience and simply paying attention. You can potentially lose a deal using an inexperienced agent.
–Write a Clean Offer: A good agent will contact the listing agent to discuss details of your offer before writing it up. What is the seller’s situation and expectations? Do they need to move quickly? Are you competing with other offers? Make it a goal to write a clean offer that the other party is able to accept on spot without having to counter. Knowing the other party’s situation can help you adjust the offer terms as needed. Make sure to use the correct form depending on type of purchase.
–Make a Strong Offer:Your agent can help by running comps of similar properties in the area to help you determine your offering price. Some properties are overpriced and some are priced to sell, all depending on how motivated the seller is. Don’t automatically assume you should discount an amount off the list price.
-Include Proof of Funds: Have your pre-qualification or pre-approval letter from your lender ready to submit with any offers. If all cash, have proof of funds to close included with your offer. You want the other party to have everything needed to make decisions.
–Earnest Money Deposit: should be 3% of the purchase price to show you’re serious about purchasing the property.
-Put it in Writing: Don’t assume. If you want a certain item included/not included with the property, put it on the contract. If you want the property professionally cleaned prior to move in, ask for it on the contract. If it’s in writing, it’s a binding agreement. If it’s not, don’t get upset when something doesn’t happen as you planned.
-Possession: Make sure it is very clear when possession transfers from one party to another. In my opinion I thing it’s best to state “upon notice of recording” which doesn’t leave any room for assuming a date or time.
-Communication: Have open trust and communication with your agent. The more they know, the better they can present your offer and represent you and your best interests. ')}