Bidding and Negotiations

You have found the house of your dreams and you want to put in your offer. The seller will most likely get many offers from other buyers who also think this is their dream house. The competition can be vicious and this is why we at Schutt Law Firm, P.A in Fort Myers, Florida are here to give you some advice and help you get a head start on bidding and negotiations.

You do not necessarily need to be pre-approved by a lender, however if you have this done before going into negotiations, it gives you the advantage of letting the seller know ahead of time that you are financially stable and that you are a serious bidder.

Hire a professional inspector to check the condition of the house. This home may LOOK ;like the one of your dreams, but having to repair the roof, electrical system, or plumbing could cost much more money than expected. Consider these factors in your offer.

Negotiating and bidding on a house is a little different in every state. However, there are general guidelines. You should have your realtor contact the seller’s agent to assure that they are accepting offers. If so, you and your realtor should start planning an offer strategy. Once this is done, it will be sent to the seller to review. This process can happen back and forth several times which coins the phrase, Bidding War.

Having a title search done before signing any real estate papers is highly recommended. This will find any existence of claims and encumbrances on the title. It may be in your best interest to walk away from the deal if the seller can not provide a clean title. A title search is usually a loan requirement as well. The professionals at Schutt Law Firm, P.A are here to help you with all your title needs. Call us at (239) 540-7007 for more information.