Don't Miss Out on the Chattanooga Home You Want

The real estate market right now is one where that are few properties for sale and many home buyers looking to buy a home.  What that means is that you have a good amount of competition when buying a home.  You are not the only person looking at a particular home.  If the home looks good to you, it probably looks good to many other people as well.  For most home buyers, they don't physically see the kind of competition that they have for a home.  When a home goes on the market that you like or has a price change, it is most likely being shown to many different potential home buyers.  

 

When I, as a Realtor, see that my client is interested in a Chattanooga home for sale, I call the seller's Realtor to see if many people are showing the home and even to see if the home is still available.  Sometimes you never know.  The seller may have just accepted an offer and their agent may not have changed the status of the property in the MLS yet. On Monday, I made that very phone call to a seller's Realtor to find out that the Chattanooga home that my client liked had received an unaccepted offer the evening before.  That meant that my home buyer had time to make an offer, but her offer had to be a good offer.  She made a great offer, and she got the property.  If she had made a lower offer, the seller could have asked both parties to bring their highest and best offers within a few day's time, and my home buyer would have paid more money that if she had simply made an acceptable offer from the beginning.  In today's market, that is the advice that I give to my home buyers.  If you want to make an offer on a property, make it an acceptable offer (meaning an offer that the seller would not counter) as long as the property is worth that amount of money.  If the Chattanooga home seller does counter your offer, that gives other potential home buyers the opportunity to make an offer and leads to you having to pay more money for the house than you would had you made an acceptable offer from the start. 

 

I know that logic seems to defy all that you have heard about bartering.  If that logic were not true in today's market, I would not be giving it.  Would you rather pay a fair price for a home from the get go or pay an inflated price after you make your low offer?  It's up to you.  Don't miss out on the Chattanooga home that you want by making the wrong offer.