Once you find the right house, what kind of offer should you make?
There are a couple of things you should consider.
First of all, look at how long the house has been on the market. If the house just hit the market, the seller won’t be as flexible. So, is the house you want a brand-new listing or has it sat on the market for a little while?
After determining the days on market, you need to find out when the last price reduction was. Again, this will give an idea of how motivated the seller is. If the home has been on the market for a little while and they just reduced the price,
we need to determine whether or not the seller will be open to another price reduction in an offer.
"PAY ATTENTION TO WHEN THE LAST PRICE REDUCTION WAS."
One of the most important things we look at is the recent sales and pending sales in that neighborhood. We’ll also look at similar homes competing against the one you like and see what they are priced at.
We’ll look at all three of those factors in order to craft an offer that meets what the market says about that property.
Ultimately, the amount you offer is up to you. We’ll give you all the data but at the end of the day, you’re the only one who knows what you’re comfortable offering for the home.
We do have a number of strategies for pricing properties and crafting offers. These three are the most common. If you would like to learn more about our other strategies or if you have any other questions, just give us a call or send us an
email. We would be happy to help you!