By Matthias Sterzer, The German Realtor® with Kaufman Realty – Serving West Lafayette and Eastern Ohio Communities
Quick Answer: How Do You Make a Competitive Offer?
To make a competitive offer in West Lafayette, get pre-approved for a mortgage, research local home values, offer a strong price, minimize contingencies, and include an earnest money deposit. Working with a local REALTOR® who knows the market can give you an edge in negotiations.
Now, let’s break down what that really means and how you can stand out in today’s market.
Why Competitive Offers Matter in West Lafayette
West Lafayette is a growing community in Coshocton County, and homes here often attract multiple buyers—especially properties with acreage or updated features. A competitive offer shows sellers you’re serious and ready to close quickly.
Steps to Make a Strong Offer
Here’s what you need to do:
1. Get Pre-Approved Before You Shop
- Sellers want buyers who are financially ready.
- A pre-approval letter from a lender gives you credibility and speeds up the process.
2. Understand Local Market Trends
- Check recent sales in West Lafayette and surrounding areas like Coshocton and Newcomerstown.
- Ask your REALTOR® for a comparative market analysis (CMA) to avoid overpaying or underbidding.
3. Offer a Competitive Price
- In a seller’s market, consider offering at or above asking price.
- If homes are selling fast, a strong initial offer can prevent bidding wars.
4. Limit Contingencies
- Fewer contingencies = less risk for the seller.
- Common contingencies include financing, inspection, and appraisal. Work with your agent to keep them reasonable.
5. Add an Earnest Money Deposit
- This shows commitment. In Eastern Ohio, $1,000–$2,500 is typical, but higher deposits can strengthen your offer.
Common Questions About Making Offers
Q: Should I waive the inspection?
Not usually. Instead, consider a shorter inspection period to keep your offer attractive.
Q: How fast should I respond to counteroffers?
Quick responses matter. Delays can cost you the home.
Q: Can I include a personal letter to the seller?
Yes! A heartfelt letter can help in competitive situations, especially in small communities like West Lafayette.
Local Tips for West Lafayette Buyers
- Know the Neighborhood: West Lafayette offers quiet living with easy access to Coshocton and Roscoe Village.
- Check for Rural Loan Options: USDA loans are popular in this area for zero-down financing.
- Plan for Closing Costs: In Ohio, expect 2–5% of the purchase price.
Bonus Tip: Work With a Local Expert
A REALTOR® who knows West Lafayette can help you:
- Spot competitive listings early.
- Negotiate effectively.
- Avoid common pitfalls in rural transactions.
Ready to Make Your Best Offer in West Lafayette?
If you’re serious about buying in West Lafayette or anywhere in Eastern Ohio, I can help you craft an offer that stands out. Let’s make your next move the best one yet.
📞 Call or text me at 740-610-8725
📧 Email: Matthias.sterzer@kaufmanrealty.com
✅ Follow me on Facebook and Instagram for local listings and tips
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