Deadlines – Should You Use Them When Buying A Home?

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Can deadlines help or hurt you? The answers might surprise you…

By Jason Boone

Deadlines are commonplace in the Real Estate world and many Realtor’s encourage them but are they an effective tool that your Realtor can use to help you buy your dream home? The answer is yes and no.

Why Deadlines Don’t Always Work

Sellers drag their feet – Although you may think that giving a seller a certain day and time to respond is the right thing to do this is actually giving the seller the opportunity to wait until the very last minute to respond to your offer and plenty of time to consider the offers from other buyers.

Deadlines make you look weak – By setting a deadline you can unintentionally make yourself look weak or desperate to buy a home and give the sellers listing agent plenty of time to do more to get their clients more money.

It’s easy to ruin the deal with a deadline – One of the most common problems with deadlines is that they can annoy the seller especially if an unrealistic deadline is used like 3 days or shorter. If you have to include a deadline in your offer you should use common sense and give the plenty of time to respond especially if they have to balance work and family like you.

What to Do If You Have To Use a Deadline

Okay, let’s say that you have to use a deadline in your offer but you want to do it the right way, here’s how…

1. Talk with the seller first – Before setting a deadline take a moment to talk with the seller and find out when they will be able to review your offer and then maybe set your deadline one day after that so you’re certain they will have ample time to review.
2. Be realistic about your deadline time – You work full time and maybe your spouse does too so why would you set 5:00 pm as a deadline time? Give the seller time to get home from work and have dinner first before your deadline time comes.
3. Add the deadline later – Before setting a deadline take the time to talk with the seller first and if a deadline is needed add it after the fact, not before.

For more Real Estate tips, or to view Bend Oregon homes for sale, contact me, Jason Boone, Principal Broker at Duke Warner Realty | Skjersaa Group by calling me at (541) 383-1426 or by contacting me through my website.

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