Ready to make an offer! Now what?
You’ve previewed several homes and settled on the one that is perfect for your needs – now what? How do you know what to offer? There are several factors that your REALTOR® looks for to help you determine the amount to offer. This information will give us a starting point.
- History - How long has the house been on the market?
- Pricing - When was the last price change?
- Market Analysis - What are other homes in the neighborhood selling for - how much did the sellers negotiate down from list price and did they pay any closing costs for the buyer?
The longer a house is on the market may influence and be reflected in the offering price. It has been said that long days on the market can erode the perceived value of a house. Transversely, a house that has just come on the market, is priced well, and requires no updating or repairs – that home will most probably have multiple offers. You might find yourself in a bidding war with other buyers, in which case, you may have to pay full price or even OVER full price in order to buy the house.
We guide you on all of this, based on years of experience and market knowledge.
One important fact to remember is that the lender/bank has the last say on the value of the house. It must appraise for the price you paid for it.
Call me to discuss this and any other questions you may have about the home buying process. We can schedule a buyer consultation as well, via Zoom or socially-distanced at my office!
Debbie Hanna (225) 772-3662