making an offer on the perfect winnipeg home
TRANSCRIPT
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Making An Offer On The Perfect Winnipeg Home
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When looking at Winnipeg homes for sale, it’s an special moment when you find the
home that you fall in love with and it is the 'one'.
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This is the home you want to make an offer on, but how do
you know what to offer?
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Especially in the Winnipeg Real Estate Market where multiple offers are made.
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Unfortunately there is no one answer to that question
because there are so many variables that affect the price
the seller will accept.
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For example, a comparable house in the same area may have sold for much less than the house you’re wanting to
make an offer on, but there is always reasons for the
difference in price.
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It's possible the seller was very motivated to sell fast as
they needed to relocate or they had a home they’ve
purchased didn't want to pay for two mortgages.
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Or the house you’re looking at needs very little work to be
done and is in move in condition. There could be
many reasons for price differences.
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Using a Buyer's Agent
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This is when having the right Buyer’s Agent (a real estate
agent that works for the buyer) makes all the
difference when looking at Winnipeg homes for sale to
buy.
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The Winnipeg real estate agent has already helped you
find the perfect house and now they can help you
purchase it at the best price possible beating out the other
offers.
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Your Buyer’s Agent has internet access to information
that can help you make a reasonable offer on the home
you want to purchase.
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Your agent can print off a Comparable Market Analysis or CMA for the homes in the
area you are hoping to buy in.
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With that information that you can make the right offer.
While each home is priced on its own merits, your agent can
provide insight to recent sales and comparisons as well as the history on the
home. .
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This CMA can be an important tool to help you in your
negotiations.
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The CMA will provide important information
regarding prices that will help you and your agent to
determine the value of the house that you are interested
making an offer.
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The information found in the CMA will determine if the
house is priced at the market value or, if you’re fortunate perhaps you will be able to
pick it up at a bargain price.
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If that's the case you should jump at the opportunity.
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A CMA will also help you to determine if it's overpriced
and whether you should negotiate the price to make it
a fair deal.
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A CMA is only available through a real estate agent as they have access to the MLS.
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This makes it important it is to find that Buyer’s Agent that
you connect with and can form a working relationship.
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This will not only help you make good decisions in
purchasing a home but in making the right offer that will
be accepted when you’ve found your home.
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If there is no offer date and no offers have been made, you
and your agent can figure out what price you should offer to
the seller.
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Sometimes the initial offer is all that is needed, while other times the seller will counter-offer or out right reject the
offer if they feel it's unreasonable.
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This is when utilizing a Buyer’s Agent works in your favor because they can help
you keep from being emotional and upset about
the counter-offer that sometimes happens when
making an offer on a home.
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As with any sale, the buyer wants to pay the least they
can while the seller wants the most they can get.
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To make a deal where both the buyer and seller agree on
price can take some negotiating before an agreement is made.
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When making an offer the shorter the time period for the
offer to be accepted the better.
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The reason a shorter time for acceptance is recommended is that a shorter time reduces the opportunity for the seller
to entertain other offers.
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It's important to understand that as the seller they only
have three choices when an offer is made. To either
accept it, counter it or reject it.
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If the seller accepts the offer the offer becomes a contract subject to any conditions.
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If there are no conditions to be met, in other words a 'clean' offer it is a final
contract that both parties are obligated to fulfill.
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When there is a time limit the seller has to decide if they
want to take the chance that they will get a better offer and
either counter the offer or reject it.
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Usually they will counter the offer but when they do the
buyer has to accept the counter-offer for it to become
a contract.
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The risk is that the counter-offer will not be accepted and the sale the seller might have made is no longer possible
with that buyer.
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Obviously part of the equation is the motivation of
the seller. The higher the motivation the more likely the
seller will take the original offer and the better the price
the buyer will pay.
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The moral of the story is that when looking at Winnipeg homes for sale, you will
always be farther ahead using a Buyer's Agent aka Winnipeg Real Estate Agent, to help you
find your dream house.