You've found a property that meets your needs and, ideally, at least a few of your wants.  There's just one problem: it's overpriced.  Now what?

You might want to make an offer anyway - one closer to the properties market value.  Some buyers won't make a bid at all, for fear a lower offer would insult the seller.  And, in truth, some sellers (those whose egos inform their asking price and who aren't serious about selling) do take offense, so be prepared for the possibility of rejection.

Most homeowners, however - those who are serious about selling - will be receptive to your offer, even if it's considerably lower than their asking price.  Why?  Because their overpriced property likely hasn't generated much activity in the way of showings or offers.  Yours could be one of only a few offers the seller receives, if not the sole offer, which will greatly increase your odds of success.

To help offset its relatively low price, consider other terms of your offer that could boost its attractiveness to the seller's eyes.  For example, you could offer a larger deposit, or a short or long closing (depending on the sellers needs).

If you decide to make an offer on an overpriced home, you'll need to be patient, persistent and prepared for rejection.  Negotiations could take days or weeks and it's possible that an agreement won't be reached.  As such, pursuing an overpriced property can be risky: you may instead wish to focus your time and energy on a property that's more reaosnably priced.

For more information on Ajax real estate, Whitby real estate, Oshawa real estate, Courtice real estate or Bowmanville real estate please call Lindsay Hawkins at (905) 619-9500 or send an e-mail to LindsayH@sutton.com.