Your downtown Boston real estate agent has shown you a Boston Beacon Hill condo for sale before the first official open house. You love the property and are ready to make an offer, but the sellers and listing agent have already set an offer date. Should you seize the day and submit an offer?

Boston Seaport condo for sale buyers make preemptive offers when they want to avoid competing with other buyers. And especially in the peek season, sellers may be open to accepting a quick offer if they are motivated to wrap up their sale to buy another home. Indeed, sellers on one of my Charles River Park condos sales listings this year agreed to accept extremely strong preemptive offers( with no contingencies).

Though preemptives have their benefits, there are definitely a few buyer-side drawbacks. Before you rush out to write that offer, here are some points to consider:

You might be overpaying. 

Your preemptive offer has to convince Beacon Hill real estate sellers that they won’t get a better deal from someone else. In most cases—particularly in hot neighborhoods (like Beacon Hill) where there’s not a ton of inventory—you’ll really have to hit it out of the ballpark on price, or even go above the highest comp. However, there are some instances when Boston Seaport condos come on the market with list prices that are closer to the expected selling price. In that case, your price will need to be convincing, but your inspection and financing terms will also need to be tight. Most sellers will be hesitant to accept a preemptive offer that’s riddled with lengthy contingency times and an okay price. If you’re planning to pay in cash, that’s a big advantage. But even at that, you’ll need to be strong on price and limit (or omit) contingencies.

Your offer may be shopped around. 

Once your agent presents an offer to the listing agent, he or she is supposed to discuss the details of that offer with only his or clients. However, there is a chance that agent could talk about your offer with other buyer agents or buyers who have already also expressed interest. (This is not ethical, but I’ve seen it happen.) Suddenly, the playing field is a bit more level, and you’re not in a great position. You may find that a cash buyer is submitting a purchase contract for roughly the same price you offered.

The seller can reject your offer. 

If the Boston condo sellers feel that they might be able to get an even higher offer by waiting for an offer date, they may reject your bid. Which means the contents of your offer are “out there” and subject to being potentially shared. Rejection typically means you can expect to up your price on the offer date.

You just might get the property.

 If your offer is solid and sufficiently high in price, the Beacon Hill condo seller may give it the thumbs up and you can open your escrow. No waiting around overnight for a response, being countered or put in backup.

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Our Boston condos for sale listings are updated in real time. To schedule an appointment please feel free to contact John Ford on his cell/text at 617-595-3712 or via email @realtyford@yaho.com


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Boston Beacon Hill Condos for Sale


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Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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