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Knowing what to offer on the purchase of a home

If a home is priced to sell at fair market value for the area, is it wise to put in a lesser offer?
  • August 30 2013 - Middle Valley
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Answers (4)

Profile picture for TeamJoeYoung
Other factors include: sellers motivation, how much they owe and how much equity they have... stuff like that...
  • August 30 2013
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A lower than market offer is likely to receive a non response or a counter to the full price.

This is a great conversation for your realtor, particularly because this is market driven in your area. If homes are receiving multiple offers, then this is a bad idea. If there are no offers and the activity is slow, this is likely a good idea.

This is a market driven by activity, and that is how I would handle it.

Good luck!
  • August 30 2013
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It depends on the market, however your realtor will have insight as to what will be accepted, given the comparable homes in the area. Good Luck! 
  • August 30 2013
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Profile picture for Rebecca Marvel
Properties are only worth what someone is willing to pay for them and this includes appraised values.
  • August 30 2013
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