It may be a Buyers market, But don’t Insult the Seller!

With all the news about the housing market, with foreclosures skyrocketing, short sales looming on the horizon and homeowners willing to sell at any price, it seems buyers have gotten the mistaken idea that any offer they put out there should and will be accepted.

Not all homes on the market are in distress. Sometimes the owner just wants to sell their home at a reasonable price to downsize, upgrade, move to a new location; maybe they have inherited the property or for some other reason, no longer need that particular piece of real estate. There are more reasons for selling a home than you can think of.

If the asking price is $250,000 and you make an offer of $100,000, it is a pretty safe bet the seller and the listing agent both are going to be insulted. They will remember your name and any offers you put in after that are going to be rejected no matter what the offering price is.

Earnest money shows you are committed to purchasing the home. So be reasonable when deciding the amount, after all $10, $25 or $100 is not very committed and again the seller may look at this as an insult and think if you can't afford a reasonable amount, how could you come up with the down payment or get financing.

When a property is listed as a short sale, the bank usually has it listed below value to begin with; making an offer for half of that price most likely won't be accepted. The same goes for a foreclosure property. The banks just aren't willing to lose that much money.

Asking for the seller to leave all the appliances, including washer, dryer, drapes, lawn equipment and pay all the closing costs, your moving expense and maybe throw in the car, is a little over board.

There are good deals in real estate, but put yourself in the sellers place when you decide to make and offer and see if you would be willing to consider it. If you would be insulted, so will the seller!