The Tribune

By MIKE LIGHTBOURN THERE are three words that can make buyers anxious: Offer To Purchase. However, there shouldn't be any mystery or fear attached to that phrase. With an experienced BREA professional guiding the process, trepidation can quickly turn to excitement. While some terms and conditions may be attached to an offer, the real issue, of course, is price. Your offer may be below the asking price, or even less than the price you are actually prepared to pay. However, the vendor hopefully will understand the realities of the market instead of latching on to an irrational idea of what he "needs" to net out of the sale. When purchasers compete, vendors hope to see full-price offers. However, when inventories are high and demand is lower, an offer below asking price could be in order. Typically, your offer will be presented to your BREA agent, who will then approach the vendor on your behalf. The vendor may accept or reject the offer, but it's quite common for him/her to reply with a counter-offer. Since it's often not a simple "Yes" or "No" answer, it is absolutely critical for you to stay in close contact with your agent, so that negotiation is handled smoothly and in a timely manner. Take heart that a counter-offer is not a rejection. As long as the offer is on the table, you can very often negotiate your way to "Yes"! Hopefully the vendor realises that the quickest way to sell his/her home is to price it properly. If this happens you should end up with a happy conclusion. (Mike Lightbourn is president of Coldwell Banker Lightbourn Realty)