Be Ready. Begin With The End in Mind
Be ready for THE property to show up when you least expect it. It’s life at the lake.
- Be preapproved by your lender. If paying Cash, have a confirmation letter of available funds from your bank or investment firm. Creditability is a key negating tool.
- Know your calendar schedule and flexibility. Timing also can be a negotiating tool
- Have liquid funds available for contract offer earnest money and a checkbook with you. 1% of the purchase price is standard; more is better. (Earnest money checks are deposited in a brokerage or abstract company trust account upon completion of negotiations.)
Best Price = Knowing the Current Local Market
As the buyer, you will have the best chance at a successful offer acceptance through research of comparable homes; those properties sold, expired listings, those properties now on the market and for how long. As your real estate professional I will develop this information for you and analyze the results with you.
Buying Lake Property Offers the Good, the Bad, and the Ugly
“Oh, I didn’t know the cove filled with timber in the spring.” “What? Part of the garage is on GRDA property!?” “What’s GRDA?” How can Afton, Monkey Island, The Coves, Cleora and more all be called Afton? I’m so confused.” “Why is the Taking Line different than the Federal Flowage Easement?” “Excuse me? Why can’t I build my own fence? Are you sure?” “What do you mean, the seller doesn’t own the shoreline? Are you kidding me?” These are just a few buyer surprises we have experienced at the lake. Save yourself pain, time, and expense. Use a Grand Lake real estate professional like the Mlnarik Team. We address, explain, and solve issues like these everyday.
Striking a Deal is an Art – Look for the Win Win
The ability and willingness to create an amicable deal is a must for both the buyer and seller. The first and most important step will be to understand what is going on within the marketplace and what is motivating the seller. The goal for us is to evaluate current market conditions and strike the perfect balance so that as a buyer, you feel good about the purchase price and terms and the seller agrees. Keep in mind that the appraisal process also keeps this dance in play. If you feel you are paying way too much, the property will likely not appraise.
Yes, it’s Business. But it’s Also Personal
When you make an offer, the seller will see nothing more than pieces of paper with lots of information and some numbers on it that represent the price you are willing to pay. Sellers want to know you are sincere. In addition to the all-important pricing, we can help you be thorough in your offer and its descriptions, guide you with earnest money considerations, and develop an inspection plan. Additionally, we provide a personalized Process Timeline Worksheet for every buyer and seller we work with.
No Isn’t Rejection. It’s Often Just the Start
Not every offer is accepted, so don’t be disheartened if your first offer isn’t a winner. Oftentimes the seller will make a counteroffer. You can even make a return counter offer. You don’t get what you don’t ask for. We can help guide you with the ask… and the re-ask.
Reading, Writing, and Success
Before you sign anything relating to a real estate transaction, make sure you read over every detail of the agreement. Ask questions. Real estate is my business and I am here to help you through every step. As a Coldwell Banker real estate professional, I can assist you with any or all of the items above. Please contact me at any time for assistance.