"We'd like to make an offer on a San Carlos CA property--what is the house worth?
We all hear this question and we each have our way of helping clients gather information so they can make an informed offer.
Today's question is in regard to a house in a pretty area of San Carlos California, an area of single family homes of widely ranging prices, served by Clifford School in the Redwood City School District.
The initial steps I take to answer the question, "We'd like to make an offer on a San Carlos CA property--what is it worth?" are:
- call the listing agent - get a link to the disclosure documents, the pest and general property inspection report, find out when and how offers will be reviewed by the sellers
- download and read the disclosures
- forward same disclosures to the interested buyers for them to read
- prepare a comparative market analysis, showing similar houses in the area currently on the market, pending sales, and recently closed sales
- review and send same to the interested buyers
- give the buyers my estimate of a likely purchase range, depending on whether or not this is a multiple offer situation or not
- call the lender who has pre-approved the buyers for a loan - how much time do they need/want for a loan contingency period and to close escrow? Lenders are busy today--lots of refinancing going on with the great rates, in addition to purchases.
- call my own, or my buyers', preferred home inspector--what is his/her schedule? How soon can they do an inspection?
- discuss with buyers what that particular home is worth to them and prepare them for a possible counter offer. A critical step--buyers' need to be able to respond quickly to a counter offer, without getting caught up in an auction mentality
Once these steps are in place, the buyers need to study all the data, discuss concerns with their Realtor® and then decide if and how they wish to proceed.
There's no short cutting these crucial steps if you wish to purchase a home in San Carlos California, or elsewhere.
Comments(2)