How much should I offer on this home?
Making an offer on a home is always a tough decision. Of course you want to get the best value possible, at the same time you don't want to lose the home to another buyer who may offer more money. It is important that you discuss your offer with your real estate agent so that you can use the best information possible to make an informed decision on your offer.
If you are an investor and are just looking for a "good deal", you need to be prepared to get disappointed quite often. Most homeowners are not willing to give their homes away and they want to get the most money possible for their home. However, typically the longer a home sits on the market, the more "negotiable" the seller may be. Also, don't assume that foreclosed homes are a good deal either. Many times these homes sell for more than the list price because they tend to priced a little under market value to begin with.
If you are a buyer looking for the perfect home, then you need to research the market conditions in your area and neighborhood to find out how long the average home is sitting on the market, what the average price per square foot is in comparable homes, etc. Your real estate agent will prepare all of this information for you in the form of a Comparable Market Analysis (CMA). The CMA will give you a very good idea of what the price range for any given home is and you can base your offer on this information. Be sure to take into consideration things like the overall condition of the home compared to others around it. Does it have a lot of upgrades or none at all? Does the roof or A/C need replacing? Is it in a flood zone? etc....... Be prepared to pay a fair price for the home you want. Put yourself in the seller's shoes and say "would I take this offer it were my house?"
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The information contained on this page and website was written and produced by Dave Turnquist and is the sole property of San Jac Real Estate. No unauthorized reproduction or use of this information is permitted without the expressed written consent of Dave Turnquist, Broker/Owner of San Jac Real Estate