Home Buying: Making An Offer

Suppose you were on a search for Bountiful Real Estate property so you visited several

Bountiful Homes for Sale and then after making a walkthroughs to each house, you finally found one that greatly satisfy your wants and needs for a house, You decided that you are going to purchase the house so that leads you to plan for your initial purchase offer. Before you set a price or give your first offer to the seller or to the agent, you need first to have the relevant information that can be of great help when you start planning for the right offer to make to the property you want to have. Knowing how to set the right and most reasonable offer will give you an advantage during the negotiation stage. It would be right for you to expect that the listing agent you are currently working with may not give you a specific price because most of them are hesitant to open such kinds of information. However, you can still take advantage of the agents expertise to figure out the most reasonable purchase offer to disclose to the seller.

Obtain the right kind of information

One of the very best information to have when you want to buy a certain property is to know the sellers reason and motivation to put it on sale. However, information of these kinds is typically difficult to get from the seller as they might refuse telling them to you. But you can always be resourceful during the data gathering of very essential information such as these. You can talk to peoples also residing in the neighborhood because they can give you the information you need. All the information you will learn about the property will make it easier for you to figure out the most reasonable purchase offer to make.

1.Understand the market

Checking the current situation of the market and knowing whether the property is in a buyers market or sellers market will make a lot of difference when you make your decisions. It is generally more advantageous for you to purchase a property in a buyers market because there will be less competition from other home buyers. The sellers are more receptive to offers because they want the property to be sold as soon as possible. On the other hand, in a sellers market, the seller is most unlikely to accept price offers that are below the selling price he or she set. Bid with an attractive offer so you can catch the sellers attention more easily.

2.Original price of the house

The first market price of a house is not really important in the current market place. However, you still need to know how much the seller originally paid for the house you want to buy now. The information will be more important if the property was sold first under a depressed market. If you found out that the market value of the house had not increase much, then the asking price now should just be a little higher than the original price.

3.Comparable sales

Recent sales in the market are also crucial in making your offer. Look at the sales records of similar properties just sold recently and then compare them. It can give you quite an idea of how much offer to make for the house.

by: Lisandro Luna

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