Ryan Sold It

The Ryans have the knowledge and expertise to help you in creating an offer that will increase its likelihood of being accepted. We will save you time and money by making sure all contracts are legal and correct. We manage every part of this process. Use our experience to outplay the competition.

The following are areas that we research prior to making an offer to ensure that we are well educted and can get the best deal for you:

1. Determine the Market
Checking  the temperature of the marketplace. When making an offer in a buyer's market, you will have less competition for the home. Sellers will be more likely to be receptive to any offer because there are fewer buyers.

2. If buying in a seller's market, sellers might not consider any offer that is less than list price. In fact, sellers could very well receive multiple offers, which means your offer should be as attractive as possible to win acceptance.

3. Find Out How Much the Seller Paid
While it is true that in many cases the price the seller originally paid for the home has little bearing on today's market if the seller purchased a few years ago in a depressed market, with little appreciation since, the asking price should be closer to the seller's purchase price.

Although we may not be able to figure out the condition of the home when the seller bought it, nor whether the circumstances were extenuating, we can adjust for increases due to appreciation and remodeling improvements.

4. Determine the Seller's Mortgage Balance
Unless the seller is in default and willing to participate in a short sale, the seller is unlikely to accept an offer for less than the mortgage(s), plus closing costs.

If the seller has an extremely high mortgage balance, and the property is vacant, we can assume the seller is making those mortgage payments out-of-pocket, probably paying on two homes.

If the mortgage balance is very low, the seller might not be motivated to immediately sell, and can afford to wait out the market to get list price.

5. Examine Comparable Sales
When looking at comparable sales we only use properties that are similar in configuration, age and location to the home you want to buy. We use the data from the most recently sold sales, and don't look beyond six months because appraisers won't.

6. Analyze List Price-to-Sales-Price-Ratios
We will provide a trend report covering the last six months, and look up the prices of the homes as they were listed and compare them to the prices that have sold.

If many homes are selling at 2% under list price, for example, that percentage could indicate the price the seller will or should accept.

7. Check Square-Foot Cost Averages
First, understand that smaller homes are priced higher per square foot and larger homes are priced less per square foot. We cannot take the average square-foot cost and multiple it by the square footage of the home you want to buy to come up with a reasonable price to offer. But we can check the trends to determine if the square-foot cost averages are on the rise or declining and use that information to your advantage.

8. Ask for the Home's History and DOM
Sometimes agents take listings off the market and resubmit them as a new listing. Find out if the home was an expired listing and then relisted. The DOM are important, because if homes have been on the market longer than 30 days, the sellers might be more motivated to wheel and deal.