These are strange times, currently, and the world seems to be on pause while simultaneously changing at a rapid pace that is hard to keep up with. Lake Tahoe real estate in no exception. Whether you are a buyer or a seller, listing or purchasing homes for sale in Lake Tahoe can be stressful. In the midst of a pandemic when things aren’t operating as they usually do? Even the most seasoned Lake Tahoe real estate investor can feel like overwhelmed. Here are 3 helpful tips for negotiating an offer during Covid-19.
Ask any Lake Tahoe Realtor, and lowballing is generally not recommended. Unless a home is outrageously overpriced for the current market conditions, coming in with a low offer can backfire. Especially if you are willing to pay more and just want to test the seller’s willingness to negotiate. In a lot of scenarios, a below asking price offer can be offensive and can cause the seller to not only not take you seriously, but not want to work with you any further. It is frowned upon when things are operating normally, and it is definitely frowned upon during this pandemic. Not only did we go into this with low inventory and high demand, but values have been holding steady over the past couple months. In fact, across the nation buyer demand has stayed strong and stable while active sellers have stayed low, contributing to less inventory. Work closely with your Lake Tahoe Realtor on what the appropriate offer amount is if you are serious about a certain property.
If you are hoping for a quick close, now is not the time. Things are running a little behind schedule due to lenders, inspectors, appraisers and Lake Tahoe real estate vendors adapting to the ever-changing public health guidelines, social distancing and trying to be as virtual as possible. It is no longer a quick straight dash to the finish line. Expect the typical closing on a homes for sale in Lake Tahoe to operate a bit differently with a couple of obstacles. While us Realtors try hard to make the experience as stress free and seamless as possible, we are all working to abide by the new rules and restrictions. Be patient and flexible with the seller’s requests and they are likely to do the same for you in the scenario that something pops up on your end.
Have your proof of funds ready! Sellers do not want someone who does not have the cash or the loan touring through their homes for sale in Lake Tahoe. This is a common thought without a pandemic, but with a contagious virus working its way around our globe, people do not want strangers in their home. There are certain protocols in place that a buyer must do before viewing a property in person anyway right now. So chances are, if you are just looking or pre-qualified and do not have a loan or are paying in cash, you won’t be taken seriously by sellers.
If you have more questions on the buying process or making an offer on Lake Tahoe properties, feel free to reach out. As an established and experienced Lake Tahoe Realtor, I would be happy to offer my guidance.