Quick Guide: Making An Offer On Your First Knoxville Home (In 500 Words Or Less)
Do you remember Cliffnotes from high school?
It provided a quick overview of a book with just enough information so that you could pass a test or write a decent paper. For those procrastinators, it was a quick way to learn just enough.
As a buyer, you may not have a ton of time research. You’re busy with work and your daily life. And, that’s totally okay. You don’t have to be an expert when you buy a home. You just need to know enough.
In this post, we’ll provide you with a Cliffnotes version of how to write an offer on your first Knoxville home in 500 words or less.
Determine The Right Price
The most important thing you’ll do when you make an offer on your first Knoxville home is to determine the price.
Price matters for both you and the seller. You don’t want to pay more for a home than you have to, but you also want to impress the seller.
The best way to assess price is by getting some help from your realtor. By looking at what has sold in the area and what’s currently for sale, you will be able to determine a fair price. That’s the best guideline while taking into the account any additional upgrades the home may have.
Sweeten The Deal
When you write an offer, there are certain things you can do to help sweeten the deal for the seller. This matters more now than ever because of housing inventories being so tight.
Things like increasing the earnest money, being flexible on the close date, and only asking for what you need in the offer are all things that can help sweeten the deal for the sellers.
Talk with your realtor see what they suggest to make a strong offer.
Include The Necessary Contingencies
Contingencies are a critical part of an offer because they offer a way out of the contract. Most contracts include a financing and home inspection contingency. If you’re unable to get financing , you’ll be able to walk away from a transaction and get your earnest money back.
An agent will be able to explain the downfalls and benefits of certain contingencies to help protect you when you’re buying the home.
Know How Far You’ll Go
Finally, when it comes to making an offer on your first Knoxville home, you need to know how far you’re willing to go, especially when you’re buying a home in a seller’s market.
Before you enter negotiations, know how high you’re willing to go in price. If negotiations go beyond those boundaries, know when to bow out.