Factors Affecting Price Offers For A Home

It is always hard to think about the initial purchase offer you will make for the property you really want to own

. Before you can even make a formal purchase offer for a house, there are lots of considerations on several things first that need to be done. Let us say, after you go to and visited most of the Downtown

Orlando Homes for Sale you liked from the online Downtown MLS you saw, you have finally decided which a href="http://www.downtownorlandohomesearcher.com/downtown_orlando-real-estate">Downtown

Orlando real estate property to buy. Now, when you decide for the purchase price you are going to give to the seller, make sure that you consider these factors as they can greatly affect the market value of the property you chose:

1.Comparable Sales

Take a look at the most recent records of property sale in the area where you prefer to buy a house particularly those that are sold within the past six months. Figure out the average sales price of the properties that are very similar to the type, built and age of the house you want to buy. Compare the prices of the homes and then use it wisely as your guide to make our own offer price for your dream house.

2.Market Trend

You have to figure out which kind of market the property you want is in right now. It can either be a buyers market or a sellers market. In a buyers market, you do have the advantage when you purchase a property because there is less number of home buyers that are competing against the house you like. Furthermore, the sellers are usually motivated to quickly sell the house and because of this, it makes them more amenable to the offers of interested buyers. However, in a sellers market, properties always receive high demands from interested buyers and that only means that there are lots of offers you have to compete with. Make sure that you make a very first attractive bid for the property so that you can easily attract the attention of the seller, leading him or her to consider you first before the others.

3.Property condition

After you visit the house, the next thing to focus on is to look at the other properties within the neighborhood and make smart comparisons to the property you really want to have. Evaluate the properties and then categorized them as average, below average or above average. You can also look at the structural condition of the property through checking intensively the roofing, the foundation, the doors and windows and other essential parts of the home. You also have to check the paint condition, the carpeting and the flooring. Look at possible plumbing and piping leakages and electrical faulty wirings in the house. Potential defects in the house should be detected early because they can make huge change in your purchase price offer.

4.Improvements and updates

You also need to be aware of all the recent improvements and repairs that the seller made to the house. Additional rooms or stories in a house, swimming pools and other updated made to the house can greatly increase its market value.

by: Molly Lidell

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