Making an Offer On Salt Lake Homes For Sale !
Ever wonder what chance the offer you've just made on that Salt Lake Home For Sale has of being accepted?
Most of us have.
In fact the most common question I get from a home buyer after we have submitted an offer is, "do you think they will take it"?
I almost never have a real good answer, but there is one technique we have used when crafting an offer that can help a nervous home buyer.
That technique is......................Know the percentages of success that similar offers have had over the last 60 days.
In other words identify the number of homes sold in a particular area, in a specific price range. Next, you count those that match the discount of the offer you have just made.
The percentage of those will give you an idea of what chances your offer on your new home has of being accepted.
It's not scientific, but it helps.
An example of this happened last week as we prepared offers on houses in South Jordan and Herriman UT listed between $200,000 and $225,000. Our offer on the South Jordan Rambler was for 85% of listed price with seller paid closing costs of about 3.5% for a total discount of about 18.5%. The offering price on the two story home in Herriman was about the same.
In the last 60 days 82 homes were sold in that price range in those two Salt Lake towns.
Of the 50 Homes sold in South Jordan UT, NONE sold with that much discount. Less than 4 miles away, 32 Herriman UT homes sold. Two of those carried a discount similar to our offer.
We made the same analysis in Draper, Bluffdale UT, Riverton UT and West Jordan Homes. Each told a different story, and depending on what the home buyers motive was another clue in the buying puzzle.
If you are an investor, perhaps the Herriman discount and the chance of success is very appealing .
If you are buying a home for your family and South Jordan offers more in the way of schools and extra curricular activities then you might want to consider upping your offer.
Our buyer wanted a good deal on his new home, but he was going to raise his family there. He asked us to re-write the offer so that chances of acceptance were closer to the 50% range.
There are a lot of tips on our website about buying and selling a home. Stop by SLC Real Estate and see if any can be of help as you look for a new Salt Lake Home.
If your mostly interested in searching for a new Salt Lake City Home or Condominium check out Salt Lake Homes. You'll get home prices, pictures of homes listed on the MLS, Directions, addresses, and information on over 8,000 homes for sale in the Salt Lake Valley. Enjoy !!!
Or just give us a call @ 801-567-0946. We'd love to help you make an offer on Salt Lake Homes for Sale.