The art of writing an offer, 5 things to know…
Writing an offer after searching for the perfect South of the River home consumes the attention of every buyer. The thrill of the hunt kicks in as we scour the computer for a hot new listing. Our senses are on red alert as we drive through a new neighborhood for the first time, scanning for swingsets, bikes and kids. We notice parks and commute routes, roofs and siding, backyards and decks like we have never seen them before. Then we spot it, the perfect house and race back to the office to put in an offer.
Bam! Reality hits us and the thrill of the chase turns into a never ending string of questions and decisions to make. Your agent peppers you with questions; how much Earnest Money do you want to put down, what type of financing to use, when do you want to close, which personal property to include, do you want to make the offer contingent upon inspection, and the big one, how much money to offer for the home.
Knowing these 5 fundamentals will help you make confident decisions and keep your focus on the ultimate goal, buying the home.
1. Do your homework! Look through listings online and visit enough homes to gain confidence in your judgement of value. Stay focused on solid features of homes instead of enticing photos. Compare homes based on square footage, locations, updates to mechanical systems and items like bedrooms, baths and garage space. Look past wall colors, carpet and other flooring.
2. Know your Mortgage Type, talk to your mortgage officer about loan types until you are comfortable with your level of understanding. Ask your agent or loan officer to help you calculate several scenarios regarding purchase price, downpayment and interest rate levels. Keep these examples and refer to them for a good approximation of your house payment.
3. Prepare your initial funds, set aside your Earnest Money, have the funds available and dedicated in a checking account. There are no minimum Earnest Money requirements. A common amount for homes in Apple Valley, Burnsville, Eagan, Farmingon, Lakeville, Prior Lake, Rosemount and Savage is about 1% of the amount you are offering. Round up to the next $1000, it makes a slightly stronger offer.
4. Understand Value, it’s not the same as cheap, especially in home purchases. The entire marketplace is ripe with really good values. Every buyer purchasing in 2011 will get a great value! Some will get a great value because they negotiate many $1000’s off the list price. Others will get their great value when they select a home listed for a nice price and pay close to asking price. A third group of buyers will achieve value by offering on a home which is underlisted, and may even pay many $1000’s over the asking price. Don’t be afraid to pay the full price or more for a listing, if you see it’s value. This is where your homework pays off.
5. Be flexible! I see it all the time, buyers know they may receive a counteroffer from a seller and even talk about it as they write their offer. A counteroffer comes back from the seller and buyers’ enthusiasm and interest in the home deflates rapidly. When we write the initial terms of an offer it seems to take root in our minds and we bond with the numbers. Anticipate a counteroffer, especially on the terms of price, closing date and financing commitment dates. A counteroffer is good, it guarantees you are not overpaying for the home or leaving money on the table.
Searching for a new home is an adventure, the offer process requires focus and detailed decisions, follow the 5 fundamentals of writing an offer and capture the home of your choice.
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We went thru much effort to find a realtor that provided a real value added to the process. The recommendation from Greg Bjorkland led to us interviewing you. We were very impressed by the type and degree of analysis done to determine the market for our home; for the multiple channels to the marketplace that you used; your team approach that covered all the time sensitive bases needed to get us to closing; and probably most of all; your really profound ability and insight in analyzing and handling sensitive issues and negotiations. Barb & I found ourselves saying about 6 different times throughout this experience how incredibly grateful we were that we had Sheryl on the job. And I don’t hesitate to say that I’ve never said that about any realtor before. Thank you again!
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Sheryl and Bo went above and beyond expectation with ideas, personal attention and services for enhancing my buying experience on both the buying and selling side of the equation. They were organized, professional and set expectations that ultimately proved to be spot on.
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She was communicative, efficient and worked very hard to help us sell our home! Our townhouse sold faster than we thought and we got what we wanted for it. She was very helpful!!
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We have used Sheryl to sell and buy two homes in the last 15 years and have found her to be the ultimate professional. From tips on preparing our home right down to negotiating a PA. She was always a phone call away. We have also referred her to two different family members over the years and would not hesitate to refer her again.
I had a great experience with Sheryl and her entire team. She was available for questions anytime I had them and was flexible in scheduling time to view properties. I’d highly recommend her to anyone else I know that is purchasing a home as her knowledge and expertise made my home buying experience fun, exciting and most of all, painless. Aaron, Maple Grove
Sheryl Petrashek has sold 2 homes for me in the past year. The first one sold, with multiple offers, in 2 days. The second one sold, with multiple offers, in 3 days. I now live in TX and being able to handle all this long-distance was very important. Everything went exactly as it should both times. I have 3 more MN homes I will sell in the future. I will sell them through Sheryl.
We did a google search of realtors in our area and that’s how we met Sheryl. We knew after our first phone call to her that we wanted her to be our realtor. Sheryl is incredibly patient and good at explaining what to expect in the home selling/buying process. When looking at homes, she took the time to educate us on the pros and cons of each home. She knew what we wanted when we often didn’t know what we wanted ourselves. We also had the pleasure of meeting her husband Bo who was equally a joy to meet. We wanted to see a home on short notice and Bo stepped in for Sheryl. Her whole team is wonderful and they were always there to answer our questions. We really enjoyed looking at homes with Sheryl and will miss doing that now that she found us our home. We will definitely suggest her to anyone we know looking to buy/sell a home.
Sheryl was such a joy to work with when selling our first home! She made the process very smooth and my husband and I knew we could trust her with every detail. She was upfront and honest so we had very real expectations when listing our home. She exceeds the competitors in marketing and knowledge of the market. We always knew Sheryl was on our side and in every situation she represented us with integrity and professionalism. We would refer all of our family and friends to her and we will definitely be customers of hers again. We had an offer on our home in 3 days and sold our home more quickly than we imagined! Sheryl and her team are wonderful!
Sheryl leveraged her strong knowledge of the real estate marketplace and her negotiation skills to obtain a lucrative price for the home we recently sold and assist us in the purchase of our new home. She took care to ensure that all aspects of the sale and purchase processes kept progressing on a timely basis and handled obstacles skillfully to support our best interest. I would highly recommend Sheryl’s services to anyone and everyone in need of a professional who gets the job done!
Sheryl is a very caring agent.She will do everything she can to help you. She also found us a home. She is the best you can find. Thanks for everything. By the way Bo is great too.
Sheryl – You represent the essence of what we feel a realtor should be. Your commitment to the sale of our home was always present as we felt completely assured that everything was under control. Your knowledge in the market and explanations to our questions were always communicated in a prompt response weather it was directly from you or one of your assistants in your office. Thank you for making us feel as though we were your only client even though we were aware of how perpetually busy you were. We have and will continue to recommend you to everyone we know!! Blessings!
I recently sold my home and used Sheryl and her team as my realtor. Before the transaction was even complete I was already recommending her to my family and friends. She has such a broad understanding of the market and has a passion for what she does. I really appreciated the one on one time she spent with me to explain the market conditions, my home’s value and all of the options available to me. Sheryl is my realtor for life!
Sheryl was very knowledgeable and took the time to listen to our needs with the sale of our home. She kept us informed of the current market and future trends that may have an impact on our sale. she took a lot of pressure off by keeping us always informed as we were not present for most of the process. I highly recommend Sheryl to anyone selling or purchasing of a home. If you listen to Sheryl’s advice on staging your home and the current market you will have a very good chance of selling your home.
Working with Sheryl & Bo Petrashek along with her team in the selling of our townhome in Burnsville and our home purchase in Apple Valley far exceeded our expectations on many levels. From our first meeting she put us at ease answering all of our questions. As I’m sure she would tell ya there were many. Also being easily accessible and just over all great having her in our corner working for us. To be honest now that we close this Thursday, the only downfall is that we will actually miss her. If the need ever arises where you’re in the market to buy or sell I would highly recommend Sheryl and her team. I know she will always be my go to should we need an agent.
I am beyond delighted with the services I received from Sheryl, and her team! Sheryl’s marketing strategies for the sale of my townhome were incredibly well thought and professional, and as a result, my townhome sold very quickly. In a competitive market, Sheryl ensured that I was able to see new homes as soon as possible during my search for a new home. Sheryl, and her team, remained in constant contact, and they were always there to answer any questions that I had, or schedule a showing at the drop of a hat. The selling, and buying, processes were beyond smooth and I couldn’t be more grateful for the services I received. Sheryl’s years of experience, marketing strategies, and communication made the selling, and buying, processes painless and easy. I would highly recommend Sheryl’s services for your selling and buying needs. Thanks for everything to Sheryl, and team!
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Sheryl was referred to us for our unique home buying experience. Her understanding our of needs ensured that our initial property purchase would ultimately allow us to fulfill on our home building goals. Sheryl market knowledge with property visits were always spot on and informative. She always had her information prepared and outlined to provide the best options a property had to offer. Sheryl’s candor navigating those options was very much appreciated, as she always kept our long term goals in site. Sheryl is an “all-in” agent. She will ensure that your expectations – start to finish – will be met, and that your home buying experience will be a pleasant one!
Sheryl is absolutely wonderful! In this economy I thought selling our home would be next to impossible but Sheryl made it so easy! Sheryl will go that extra mile for you. She is extremely knowledgeable and offered great advice and recommendations to get our home ready for showings. She is not only very professional but very likeable and friendly. I highly recommend Sheryl and look forward to working with her to buy my next home!
Sheryl was very knowledgeable. She was always quick with answers to questions and right on top of the whole process. I would recommend Sheryl to anyone needing a real estate agent.
This is a second time that I worked with Sheryl in purchasing my home and all I can say that both times I felt like I was her only client. I had specific need for a particular floor plan and she was amazing at finding exactly want I needed/wanted. She puts time and effort to make her clients fully satisfied. She is extremely knowledgable and gives great advice.
I first met Sheryl in 2006 when we sold our first home. She impressed me immediately. She’s knowledgeable, experienced and savvy in real estate. Sheryl calmly explains the process because it can be overwhelming and stressful, at least for me. Her “customer service level” is understanding as she returns calls or emails in a timely manner or her “team” does. My husband and I would give Sheryl Petrashek and 5 star A+ rating and would recommend her without hesitation. I have given my entire family her name for their future real estate needs! THANK YOU SHERYL FOR EVERYTHING!
Hard worker doesn’t even begin to describe Sheryl’s drive to go above and beyond the call of duty. She is extremely knowledgeable and without a doubt has her client’s best interest in mind. Would choose her again and again and would highly recommend!!
Sheryl and her team are fantastic. They were there every step of the way for us. We sold our house in 4 days for the asking price. We would recommend Sheryl to anyone.
Sheryl is in the process of helping us to prepare and understand the current market. Her knowledge of the real estate trends and in depth analysis allows us to maximize the sale of our home. Along with her being patient, helpful, enthusiastic and the most understanding person to work with! We look forward on working with her!!
I am so glad I got to work with Sheryl and Remax Results. Sheryl was open, totally flexible to my schedule, and very good at keeping me updated and informed about homes available. After helping me finally find the perfect place the entire team did a great job of guiding me through the process and preparing me for an easy and successful closing. Honestly, I don’t think finding and buying a home has ever been easier. Thanks
Sheryl Petrashek is a fantastic realtor! I have bought and sold several homes thru Sheryl for quite a few years and know that she does an exceptional job and goes above and beyond what any realtor would do. I recently once again listed my home thru Sheryl and as I knew from before she would be there and help thru every step of the process. Sheryl is not only a great listener and will help you find exactly the home you are looking for she also understands the market and knows how to navigate every part of buying and selling a home. Sheryl and her great office staff makes buying and selling a home seem flawless and very easy.
Working with Sheryl has been great. She’s extremely knowledgeable about all aspects of the buying and selling process and is able to give expert advise. She and her staff are very organized and do a wonderful job of keeping us informed of all the moving parts. We appreciate the work of Sheryl and all the others who have helped us with this process.
I can’t say enough about Sheryl and her services. I’m completely impressed and satisfied with the handling of the sale of my home. Sheryl’s honesty and integrity shines through from the beginning to the end of the process of selling my home. She did a fantastic job marketing my home and delivered exactly what I wanted/needed to sell my condo. Sheryl and her office made selling flawless and very easy.
Sheryl is very knowledgable . Keeps up with market trends and advises you accordingly. Easy to work with. Does a great job working with you to get your house ready to place on market. Answers phone calls promptly and calls you on the progress of the sale.
Wonderful experience and a great realtor with no pressure sales! Always willing to make things happen!
Sheryl worked with my husband and me to sell our house at a difficult location. Sheryl tried many approaches and we successfully sold our house. I really feel it was because of Sheryl’s thorough and consistant effort with showings, open houses, and marketing that made the difference. Sheryl is a great agent and partner in this process. She also helped us find our next home!
We had our townhouse on the market for over 7 months with another realtor and had no offers. Sheryl was recommended to us by a friend, so we decided to switch and give her a try. Within two weeks of working with Sheryl, we had an offer and sold our townhouse. She also found us a wonderful new home to purchase. Sheryl and her team made the whole process seamless and effort free. If you want great results, Sheryl is the realtor for you. Thank you!
Sheryl was a great realtor to work with. She is incredibly knowledgeable about the market and worked with us to promote and sell our home. She is easy to work with and also has a great team working with her. We highly recommend Sheryl to anyone looking to sell their home or her assistance in buying a new home. She definitely takes great care of her clients.
I would highly recommend Sheryl. She originally helped us find our first home back in 2012. We thought she was so terrific that we decided to use her again to sell our current home and find us our next home. She goes way above and beyond what any other realtor would do. She always responded back immediately to any questions we had, filled us in on everything and made sure we understood the next steps. She showed us many homes and never made us feel like we were inconviencing her. You can tell she truly loves her job and she is great at it! She helped us find our dream home yet again. Will definitely work with her again if we need to move.
Brian and I chose to work with Sheryl because of the wonderful experience we had with her when we purchased our current home. Sheryl guided us through every aspect of selling our current home and buying our new home. She gave us advice on staging our home and responded to our questions quickly. Overall, we had a wonderful experience working with Sheryl.
Sheryl was very instrumental in both the purchase of our new home and sale of our old home at the price(s) we wanted. She is very knowledgeable about properties and their values. Whenever I needed to talk to her she would always respond. Not only is she a great Realtor but a better person you won’t find. You won’t regret having Sheryl as your listing agent. She gets thing done.
Amazing Agent that worked very hard to get me the condo I wanted at a great price :) Would definitely recommend Sheryl Petrashek and her team!
We are very happy that we could meet high experienced professional when we started searching of our new / first home. We are property virgins and when we met Sheryl we had a lot of questions and worries. Sheryl could provide us the best support and help. She was keeping under strong control every step of our deal. She gave us all necessary information and documents in time and without delay. We received a real support from Sheryl when we had to arrange an international money transfer and we can say that this step of our deal has been done in accordance with all regulations and without problems. We want to tell Sheryl thank you so much because we’ve got a high quality service from her personally and from her team. We had a strong feeling that we were a VIP customer when we were working with Sheryl.
Sheryl Petrashek listed two condo properties for us. We found Sheryl to be a professional who used her strong marketing, communication, and reporting skills to sell our properties. However, what really separated Sheryl from the rest was her willingness to do whatever task was necessary to make the deal happen. She truly exhibits a “can do” attitude, and she takes the “full service realtor” concept to an entirely new level.
Sheryl is very knowledgeable about real estate in general and really excels at getting your individual house sold. She was great at identifying exactly the type of buyer that would be looking at our house. From there she told us what updates to make – which ones would really be worth our time and money. She also had recommendations on who could do those updates. Sheryl is an exceptional realtor to work with, you will not be disappointed!
Sheryl Petrashek is awesome to work with. Her knowledge of the market and expertise is top notch. She is meticulous, she knows what the buyers are looking for, and she has an awesome team of professionals who work hard to get your house ready for sale. She is a natural in her field. When we first listed our south metro house and began the process of the looking for a house to buy in Minneapolis, we originally were going to find an different agent who might know the city better. After working with Sheryl for the short time, we had no doubt we wanted her to represent us on the buying side. Her knowledge of older homes from style to how sound the construction is (or the quality of the remodel) is very valuable to us. We are so glad we have her representing us.
We worked with Sheryl this summer to sell our house. She was wonderful and easy to work with through the whole process. We relocated out of state and had a quick closing date and Sheryl did a great job of managing the home sale despite the tight schedule and us being out of state. We never felt uncomfortable with how the home sale was going. She in particular went above and beyond to help us meet all the negotiation items (radon system, plumbing improvements, etc..) before a very short closing date. We highly recommend Sheryl.
We had a lot of real estate agents to choose from and we are so happy we decided to work with Sheryl and Bo. We were starting to feel a little hopeless that we would find the perfect house for us within our budget, but Sheryl and Bo were determined to find the right house for us and they did! There was an issue with the appraisal coming in low, so Sheryl did her research and wrote an excellent rebuttal to the appraiser and she was able to get the the appraisal increased so there weren’t any issues with financing. Their communication was top notch – our calls, texts, and emails were always returned very quickly. We would highly recommend working with Sheryl and Bo!
Sheryl and Laura were awesome to work with in selling my home. They were ultra-communicative from the word go and provided some excellent tips in staging my townhouse for sale. Their market assessment was honest and well-thought out and the online presence they provided helped get the house sold right away. Thanks so much Sheryl!!!!
Sheryl asked me if I would write one or two sentences to recommend her…well it might be a paragraph. Sheryl is the best realtor ever! I bought a foreclosed townhouse which I love. But during the process the title company on the seller’s side had major delays finding my title. Sheryl was so excellent, very experienced and always took the time to explain the technicalities to me, she was persistent in getting me my title, very nice and patient, incredibly intelligent and I had complete trust in her. And it paid off, a huge THANK YOU to Sheryl! I now am living in my dream house!
Sheryl has been able and willing to think far outside of the box for solutions and willing to do whatever is necessary to make the process seamless and profitable for me. As a partner of mine put it after Sheryl went above and beyond her role for the umpteenth time “now THAT is a full-service agent!!