Making an Offer on a House: Real Estate in Minneapolis
So you found a house in Minneapolis and you are ready to make an offer. You've been looking for a long time. You have been in over 75 houses in the last two months and you are sick on seeing stuff you don't like. Now it is time to make the decision!
What are the things to do when you make an offer? I always tell my clients that it is very important to identify your goals when we begin looking for houses. Questions like "How much do you want to spend?", "Where do you want to live?", "What type of house do you want to live in?", and "How long do you plan on living in the house?" would greatly help in finding a house. These are all very essential decisions you should figure out during the search process and also before you look for houses.
You'll find it a lot easier to find the right house once you have determined these goals. Also, there are several houses on the market right now.
A number of foreclosures that are in a bad shape, short sales that are in a bad condition, and just traditional sales where the individuals who reside in the homes have not updated the house since the 1950's. Sooner or later, you'll find the right one, a diamond in the rough. Usually when you find one, it will sell quickly. It might even be bought on the first day, first showing.
Almost all of the houses I bought, it will be sold in the first couple days and usually there were a lot of offers. I offered seven grand over list price on a duplex in Uptown off Garfield and 34th in April. I didn't get the house and after that I found out there were 18 other offers. It turned out the house ended up going $35,000 over list price.
Now this was some sort of an exception since it was a foreclosure and it was listed very low. It is also in a great location but still. I am acquainted with scenes like this and being involved with deals like this happens time and time again.
The good ones go fast. That is why it is really important to determine what you want so when the good deal pops up you are ready to pull the trigger and prepared to make your best offer. It is also good to look at a lot of houses to figure out what you want.
After going through 30 houses in the same general area, you will start to get a really good idea of what you like and what you don't like. By the time a gem comes up on the market, you will be writing the paper work and sending it over to the listing agent before the link can dry on the paper, well before you can put it in the scanner to email. So remember, determine your goals when you are looking for real estate in Minneapolis.
What are the things to do when you make an offer? I always tell my clients that it is very important to identify your goals when we begin looking for houses. Questions like "How much do you want to spend?", "Where do you want to live?", "What type of house do you want to live in?", and "How long do you plan on living in the house?" would greatly help in finding a house. These are all very essential decisions you should figure out during the search process and also before you look for houses.
You'll find it a lot easier to find the right house once you have determined these goals. Also, there are several houses on the market right now.
A number of foreclosures that are in a bad shape, short sales that are in a bad condition, and just traditional sales where the individuals who reside in the homes have not updated the house since the 1950's. Sooner or later, you'll find the right one, a diamond in the rough. Usually when you find one, it will sell quickly. It might even be bought on the first day, first showing.
Almost all of the houses I bought, it will be sold in the first couple days and usually there were a lot of offers. I offered seven grand over list price on a duplex in Uptown off Garfield and 34th in April. I didn't get the house and after that I found out there were 18 other offers. It turned out the house ended up going $35,000 over list price.
Now this was some sort of an exception since it was a foreclosure and it was listed very low. It is also in a great location but still. I am acquainted with scenes like this and being involved with deals like this happens time and time again.
The good ones go fast. That is why it is really important to determine what you want so when the good deal pops up you are ready to pull the trigger and prepared to make your best offer. It is also good to look at a lot of houses to figure out what you want.
After going through 30 houses in the same general area, you will start to get a really good idea of what you like and what you don't like. By the time a gem comes up on the market, you will be writing the paper work and sending it over to the listing agent before the link can dry on the paper, well before you can put it in the scanner to email. So remember, determine your goals when you are looking for real estate in Minneapolis.
About the Author:
Author: Joe Rothstein is a local businessman which specializes in real estate, construction, and internet marketing. He has helped a lot of buyers and sellers through his articles. If you want to learn more about real estate in Minneapolis, click the blue link provided.
posted by Vittoria @ October 07, 2012
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