“Sleep on It,” and Wake Up to a Nightmare Not a Dream Home! [VIDEO]

If you are a homebuyer in today’s market, you need to make decisions fast. If a seller counters and you decide to sleep on it, you may wake up to a nightmare.

Welcome to the latest episode of “What’s Working Now!”

Recently, one of my sellers made a counteroffer and was surprised when the buyer wanted to sleep on it.

After all, we are in an incredibly competitive market right now, and homes are selling fast.

The buyer initially made a great offer, but my seller didn’t think it was quite great enough. We adjusted the offer just a tad and made a counteroffer. Instead of making a decision right away, the buyer said they would sleep on it.

In the meantime, I contacted several agents who had been through the property. Some of these agents had a buyer but hadn’t worked quickly enough to make an offer yet.

Sure enough, one buyer was very excited that the other buyer wanted to sleep on it. This new buyer made an offer right away. It was a full-priced offer with no contingencies, so we immediately signed it and withdrew our counteroffer to the buyer who wanted to sleep on it.

The lesson here is that if you are a buyer in the middle of a negotiation, you need to make your decisions up front. If you decide to sleep on it, your dream of owning a home may become a nightmare.

You’re not the only buyer in the market who wants that house, so don’t give anyone else the opportunity to come in and get the home out from under you.

When negotiating a sale, it’s important to work with an agent who doesn’t take a break or let you sleep on major decisions. Work with an agent who will keep going until you get what you want.

Thank you for watching “What’s Working Now!”  Next time, I’ll discuss a few solutions to common challenges you may encounter in today’s market.

Meanwhile, if you have any questions about the real estate, just give me a call or send me an email. I would be happy to help you!