So, you have found the perfect home and want to make an offer. The question is, how do you decide what that offer should be?!
A few things to consider before making an offer:
- How long has the home been on the market?
- Has the asking price been dropped lately?
- What are similar homes going for in the area?
- Are there repairs or cosmetic items that need to be addressed?
- Are you going to ask the seller to cover the cost for these repairs or will you take care of them?
- Do you want the seller to contribute to closing costs? (I always tell my clients that it never hurts to ask because you never know what the buyer is willing to do to make the sell).
When you have considered the above and want to make an offer, be sure you don’t send in an offer that is unrealistically low (this may offend the seller). When you have decided on the offer price, your agent can begin the paper work.
It would be great if sellers always accept offers the first go around, but this rarely occurs. Due to this, you are going to have to decide what you are not willing to give up and what the max price you will pay for the home is. I would strongly recommend not going above your max price because buyer’s remorse takes the fun out of the home buying experience.
After both buyer and seller have come to an agreement then your work as a buyer begins……more to come soon and for my other blog visit Park’s Edge Park City.
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