Preparing yourself to make an offer to buy a home

Offer to buy a homeYou fall in love with that house! Time to make an offer! When you are planning an offer to buy a home, you previously know what the seller’s asking price is.

But, how about yours? How much are you going to offer? How are you going to do it? First off, you need to get all these issues cleared up and discuss it with a professional Real Estate Agent and walk with him throughout the entire process. You and your Agent will have to look at current sales from comparable properties to come up with a price. After that, you will be examining the condition of the house, developments made on the property, sales market conditions at present, and also the seller’s position.

With all this together in mind and carefully studied, you can start thinking on a price for the home, especially the price that you would be able to pay for. Although your Agent will be there to assist you, you can gain time by looking at “comparable sales”, so then you can discuss it with your Agent. What y ou need to do is to compare  prices of properties matching the criteria or closely to the home you want to buy. This comparison must be done by taking into account the same number of bedrooms and bathrooms, type of construction, back yard, lot size, garage space and square footage. You can do this on your own.

However, you need to know that there are specific sources to get information on comparable sales and, of course, these are of the exclusive use and access of Realtors. The public in general mostly visit public records and the Multiple Listing Service to get the information needed.

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