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Answers (4)
- Ashley Lambert, "AshleyTheRealtor"
- Contributions:42
I agree with Lisa, if you don't have an agent representing you it is in your best interest to get one.
When you are making an offer on a home there are a few things your can consider: most importantly the comps of the most recent sold homes, but you can also take into consideration the days on market and the condition of the home.
I always tell my clients, "Offer what you are willing to pay. You don't know if someone else is looking at the home and also making an offer. If your offer is accepted you know that you are comfortable with that price. If your offer is rejected because you made a 'low ball' offer and the offer that was accepted is a price you were actually willing to pay, you would be sick."
When you are making an offer on a home there are a few things your can consider: most importantly the comps of the most recent sold homes, but you can also take into consideration the days on market and the condition of the home.
I always tell my clients, "Offer what you are willing to pay. You don't know if someone else is looking at the home and also making an offer. If your offer is accepted you know that you are comfortable with that price. If your offer is rejected because you made a 'low ball' offer and the offer that was accepted is a price you were actually willing to pay, you would be sick."
- Jeff Konstant, "jkonstant"
- Contributions:1970
What a house is worth today based on recently sold comparables is beneficial in a stable economy and a housing market. There is too much volatility in both right now and in the foreseeable future to rely on what has "recently sold." as it once was. You need to determine what the house might be worth in 1,2,3 or more years. It does no good buying a home worth $200K today for $190K only to find out next year it is worth 10% less than what you paid. That would mean it's value in a year would be $171K. A scenario like this turns a false belief that you got a $10K break on a $200K home into a harsh reality that you are now way down. Short term trends (a couple of months) is not a good indication in todays market.
- Jason Robu, "scguy101"
- Contributions:40
recent solds in the last month within a 1 mile radius of your home, only compare houses that are similiar to the one you are looking to buy! Ask your agent to run comps for you, if you are not working with an agent I willl be glad to assist you in the aiken area!
Also determine if it is a foreclosure or why the seller is selling this will tell you how motivated the seller is and the difference between 2,000 off and 15,000 off the price a good real estate agent will know this, thats what my specialty is , i love negotiating give me a call.
Jason Robu
864787694
Also determine if it is a foreclosure or why the seller is selling this will tell you how motivated the seller is and the difference between 2,000 off and 15,000 off the price a good real estate agent will know this, thats what my specialty is , i love negotiating give me a call.
Jason Robu
864787694
- Lisa D Arnold
- Contributions:26
If you are working with an agent, your agent should be pulling comps for recently sold, currently under contract and active listings. From those figures your agent will be able to suggest how much you should put the offer in for.
If you are not using an agent, try to find 5 or so recently sold houses that are similar to the house you are looking to buy and use the sales prices to determine your purchase price.
A buyers agent is usually paid by the seller of the property, so if you are not using an agent, I suggest you get one. They'll give you expert guidance on what price you should offer and help you negotiate the price if your first offer is refused. Best part, it won't cost you any commission.
Good luck!
If you are not using an agent, try to find 5 or so recently sold houses that are similar to the house you are looking to buy and use the sales prices to determine your purchase price.
A buyers agent is usually paid by the seller of the property, so if you are not using an agent, I suggest you get one. They'll give you expert guidance on what price you should offer and help you negotiate the price if your first offer is refused. Best part, it won't cost you any commission.
Good luck!
What should one use as a guide to determine what offer price to submit when purchasing a home
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