Making an Offer
Before the offer to purchase is created, it is very important that you have been at least pre-qualified or better yet pre-approved by a lender. With this being a resort, it's important to use a local lender with knowledge on resort financing in this area. Contact me for a list of lenders.
This is one of the best negotiating tools a buyer can have. It shows the seller that you are financially able to purchase the home. After you have found the right home, it is time to prepare the offer.
When you are buying a property in Mammoth Lakes, there are many problems that the seller is obligated to disclose. In most states, it is illegal to withhold information about major physical defects on the property but these disclosures don't always paint the entire picture of the home. Here are six questions you may want to ask that can offer additional insight about the prospective home before you make a final decision.
1) Why is the seller selling the house? This question may help you evaluate the "real value" of the property. Is there something about the house the seller does not like? Is he motivated to sell? If so, you may be able to adjust the offer accordingly.
2) How much did the seller pay for the home? This question can help the buyer negotiate a better deal-maybe even get the seller to carry part of the loan. However, it is important to remember that the purchase price is influenced by several factors, like the current comps in the area and any improvements the seller may have done to the home.
3) What does the seller like most and least about the property? By asking the seller what they like most and least about the property, you might get some interesting information.
4) Has the seller had any problems with the home in the past? It is also a good idea to ask the seller if he or she has had any problems with the home while living there. You should also check that the seller repaired all the items properly.
5) Are there any nuisances or problem neighbors? Use this answer to find out about any loud neighbors, barking dogs, heavy airplane traffic or even planned changes to the community. This may give you insight on why the seller is really deciding to sell.
6) How are the public schools in the area? Because the value of a community is usually greatly influenced by the schools in the area, finding out the buyer's opinion on the schools can give you some insight about the quality.
Knowing all you can about a prospective home, not only helps you decide if it's the home of your dreams, but what offer to make as well. I can help you get your key questions answered and give you advice on how to evaluate your findings when looking for Mammoth Lakes Properties.
Jamie Kelly
Resort property realty
