Making an Offer? Avoid These 3 Big Buyers’ Mistakes

Published On: April 24th, 2017|Categories: Blog, Buying|Tags: Buyer's Offer, Financing, Lowballing, Offer|

You found your dream home, and now it’s time to put in an offer.
The seller will be able to accept your offer, reject it, or counter-offer.
But sometimes buyers make big mistakes when it comes to offers.
Fortunately, you don’t have to. Your Aspen Realtor® will be there to help guide you. Still, though, it’s a good idea to understand what some of the most common mistakes are so you can avoid them.

The 3 Most Common Mistakes Buyers Make When Putting in an Offer

If you avoid major slip-ups when you’re putting in an offer, you’ll be able to enjoy a much smoother home-buying process.

Buyer Mistake #1: Taking Too Long to Make an Offer

When you find a house that you want, make an offer quickly. If you wait, you risk losing the house to someone who acted faster than you did.

Buyer Mistake #2: Putting Everything Out There at Once

Even if you’re approved by a lender to spend $800,000 on a home, you don’t have to put it all on the table. If you do, you won’t have room to negotiate. Further, offering such an exact amount for a house might cost you more than you would’ve originally spent.

Buyer Mistake #3: Lowballing the Seller

You don’t want to “lowball” the seller, because chances are good that they’ll pass up your offer and wait for a better one—especially if the home just hit the market. While you may be able to enter into negotiations with a seller after putting in a lowball offer, remember that the seller is under no obligation to accept your offer; he or she can choose to work with a buyer who comes closer (or exceeds) the home’s original asking price.

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