First impressions are everything. When it comes to real estate, your offer is the first impression the seller will get of you; so, how do you make it a good one?
Sellers are looking for the strongest offer from a buyer who’s as determined to complete the transaction as they are. To the seller and their agent, your offer amount will prove how serious you are about the property.
Here are a few ways to determine how much you should offer:
1. Check Out the Competition
Research comparable properties that have sold in the area. Find a house that’s similar in size, condition, and location to get the best idea of what you should be paying. You should also see houses that are for sale at the same time to get a comparison that’s true to the current market.
2. Get a Second Opinion
Know exactly what you’re paying for by getting an appraisal and home inspection done. You’ll find out much more about the house than what you see in a viewing – for better or for worse.
3. Be Prepared
Know what you can afford and stick to it. Decide exactly what you want to have in your inclusions and conditions before you head to the offer table; it makes the process easier for everyone, even if the offer isn’t accepted right away.
4. Know the Seller
Knowing their motivation for selling can change how much you pay. If they’re in a time crunch and the house has been on the market for longer than they expected, you might be able to get a deal.
The truth is, you never know for sure what you’re getting into. There could be multiple offers, a bidding war, or surprises in the home inspection that will impact your decision. All you can do (with the help of your agent) is be prepared and put your best offer on the table.
