A very good subject and it is an important one to visit with. Getting educated on this ahead of time is the best way to approach it. From there, you can concentrate on getting your offers worth. Let me point out by saying that sellers don't have an exact science on setting a sale price. They have guidelines and those usually slant those in their favor. This is understandable
WHAT IS IT WORTH?
What you want to do is to make sure you get our monies worth and that you are paying fair market value. A good rule to test this is to ask your self and others if you could resell this property in a years time for what you paid for it. What can I rent it for also establishes a measure of value too.
CONDITION AND REPAIRS
Another factor to consider is the condition of the the property. Does the price include a AS-IS statement? If so, it has to be looked at accordingly. That means repairs are in addition to what you are paying for the home.
WRAP IT UP..I WILL TAKE IT
If you find your dream home I have something I want to point out that worked for me every time. If this is the home you want, then make an offer that reflects that. It is not wise to risk losing the property over a few thousand dollars. To the seller, that's quite a bit of money. To you, if you divide that over the life of the loan amount, it is peanuts
I strongly recommend an agent to part of your team and strategy to purchase....
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