Today’s RCFE buyers are faced with a strong seller’s market, which means there are a lot of active buyers competing for a relatively low number of available RCFEs. As a result, it’s essential to understand how to make a confident and competitive offer on your dream RCFE. Here are five tips for success in this critical stage of the process.
Listen to Your Real Estate Advisor
1. A good real estate team will help guide you on your journey. Their support and expertise will keep you from compromising your must-haves and future financial stability. Your team can assist you in evaluating whether BOTH the home and the business are good investments and will provide price guidance for both the home and the business. Be sure that the agent you select is experienced in senior care facility transactions.
2. Understand Your Finances
Having a complete understanding of your budget and how much you can afford is essential. The best way to know this is to get pre-approved for a loan early in the process. Doing so makes it clear to sellers you’re a serious and qualified buyer, and it may give you a competitive edge in a bidding war. We have trusted lender partners we can refer you to for SBA and conventional financing.
3. Be Prepared to Move Quickly
The average RCFE sold today receives several offers. So, it is important to stay agile and alert in your search. As soon as you find the right RCFE for your needs, be prepared to submit an offer as quickly as possible.
4. Make a Fair Offer
It’s only natural to want the best deal you can get on an RCFE. However, submitting an offer that’s too low can lead sellers to doubt how serious you are as a buyer. Don’t make an offer that will be tossed out as soon as it’s received. The expertise your agent brings to this part of the process will help you stay competitive. They will work with you to make an informed offer for the home and business.
5. Stay Flexible in Negotiations
After submitting an offer, the seller may accept it, reject it, or counter it with their own changes. In a competitive market, it’s important to stay nimble throughout the negotiation process. You can strengthen your position with an offer that includes flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized).
Resist the temptation to waive the inspection contingency, especially in a hot market or if the RCFE home is being sold “as-is”, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.
Today’s competitive market makes it more important than ever to make a strong offer on an RCFE. If you are in the market to purchase an RCFE, feel free to call us TODAY at 949-397-4506 for your complimentary, NO OBLIGATION consultation. We’ll develop a winning strategy, based upon your goals and aspirations, to enable you to realize your RCFE dreams.
Michelle (949) 397- 4506 & Melvyn (949) 500-3630