Ideas on how to make a Boston condo offer.
You and your Boston real estate agent found the perfect Boston condo in the right neighborhood. The asking price is in your budget, but you know you’re in a competitive Boston condo market. So what should you do!
Fortunately, Freddie Mac covered “4 Tips for Making an Offer” in their Executive Perspective.
Here’s our short summary of what we would recommend that you and your broker should do.
1. Can you afford the monthly payment.
This is important, there purpose of submiiting an offer unless you have been pre-approved by a banking institution. This will allow you to submit an offer with confidence that the bank will ok it. Also it helps when submitting an offer on a Boston condo that you include a pre-approval letter.
Don’t hesitate
Presently, the Boston condo inventory is low at this time of year, as many sellers don’t market their properties until the spring. So if you see a property act fast. In addition, keep all contingencies in the offer (ie home inspection) within a few days or weeks. Sellers don’t like long contingency dates.
Your Offer must be strong.
Freddie Mac offers this advice to help make your offer the strongest it can be:
“Your strongest offer will be comparable with other sales and listings in the neighborhood. A licensed real estate agent active in the neighborhoods you are considering will be instrumental in helping you put in a solid offer based on their experience and other key considerations such as recent sales of similar homes, the condition of the house and what you can afford.”
If your buying your first Boston condo and would like to hear more about our Boston Buyer Agency services (free of charge) please call our office at 617-595-3712.
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Updated: December 2017
