It is the nightmare of real estate. You have searched far and wide for that dream home that has all your wants and needs and miraculously is located in your favorite neighborhood and budget. So what is wrong? It is pending. While you may want to continue with your search, this doesn’t mean you have to wave the white flag. After all, pending does not mean sold. It simply means there is an offer on the property, but the deal is not done and you could still potentially make this home yours. Here is how!
- Let them know you are interested. If your Lake Tahoe realtor and the seller’s Lake Tahoe realtor know how much you love this property, chances are you will be the first person they call if something falls through.
- Get the details. Your agent could obtain some information, like parts of the contract that are not firm yet or concerns about the first bid. This can be used for your own benefit.
- Do your homework and learn as much about the property and neighborhood as possible. Tax records are a great resource and while you may never need this information, you could come across something that could swing the pendulum in your favor in the scenario that things go awry with the first offer.
- Negotiate to beat out the other buyer. If this is your dream home and you can’t bear the thought of losing it to someone else, you may have to play some hardball. This doesn’t mean placing a higher back up offer, although that has been known to sweeten the pot a bit. You can come up with an offer that includes terms the seller finds way more convenient. This is the part where the intel on the home and seller comes in handy. By offering a more flexible moving date, waiving certain contingencies or offering to pay the closing costs, you are making your offer look pretty presentable. Being open to ideas and negotiations looks great for you, especially if the buyer in front of you is playing hard to get. It also ensures you are a serious buyer.
- Get personal. If you want this home, tell the seller. We have addressed the benefits of a hand written letter detailing why you love the property and how you see your life progressing in the home. It is a very simple touch that can go a long way.
- Cue the high school cheer and get aggressive. Don’t think of it as pushy, think of it as tenacious. Even if this isn’t your personality, if the original deal falls through, your obvious interest will have you next in line.
If you are looking for information on the Lake Tahoe real estate market, call us at 530-543-6676.