Writing Your Offer: What Price Do You Think Is Fair?

By
Real Estate Broker/Owner with MBA Broker Consultants CalBRE Broker #00983670

Discuss with your REALTOR®, what price you think is fair.  You want to make sure that you are going to get a good deal on the price, so you do not want to offer more than you have to.  On the other hand, there may be competing offers from other buyers, so you want your price to be high enough to beat out the other buyers. 

You want facts AND an honest opinion.  This is where your REALTOR® can shine as your trusted advisor and consultant.  Ask him  for an opinion.  How much would your real estate advisor offer for this house, if he or she were in your shoes?  Yes, your REALTOR® is going to run a comparable market analysis (CMA), show you the comps, and help you crunch the numbers.  However, it all comes down to “gut feeling” sometimes, and you have to feel good about your purchase.

Never make a “low-ball” offer.  I know you are trying to get a bargain, but that is not the right way to go about it.  An unreasonably low offer will only offend the seller and then you definitely will NOT get your house!

Read more in our book, "Buy Your First Home", http://tinyurl.com/nrvmgc7.

Image courtesy of Ambro at FreeDigitalPhotos.net

Posted by

Regina P. Brown
Broker, Realtor®, M.B.A., e-Pro, GREEN
California DRE # 00983670
www.CalCoastCountry.com

                

Text copyright © 2011-2018 R.P. Brown, All Rights Reserved

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Ambassador
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

The last offer I drafted for buyers that is NOW a contract started a few thousand below the CMA I did for buyers, but we settled at a pending price of just a few hundred over the CMA so I think it was a good deal all around.

Sep 05, 2016 02:31 PM #1
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Wise advice Regina, nice to get a bargain, but sometimes not offending the seller is the most important thing.

Sep 05, 2016 03:03 PM #2
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Regina P. Brown - exactly - no low-ball offers! That's a clear sign of someone not knowing how to negotiate!

Sep 05, 2016 04:37 PM #3
Rainer
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Bernadine Hunter, SFR, ACRE
Keller Williams Greater Columbus Realty - Pickerington, OH
"Finding Solution to Your Real Estate Needs"

Good advise. In this area bargains are fewer and farther between, so I caution my buyers not to try to go in too low. Our average days on the market for really good properties is less than 30 days.

Sep 05, 2016 07:40 PM #4
Rainmaker
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Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

Yes, a real estate professional would be a great source of a good offer price!

Sep 05, 2016 08:14 PM #5
Rainmaker
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Peter Mohylsky, The Beach is closed but I am open.
PrimeSouth Properties - Santa Rosa Beach, FL
I AM STILL OPEN FOR BUSINESS ALONG THE BEACH

Bargains do not exist in real estate sales. The  Market dictates what the price will be.

Sep 05, 2016 08:57 PM #6
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Regina P. Brown

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