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How To Determine What To Offer On A House

Posted by latoya.dewey@kw.com on March 20, 2020
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How To Determine What To Offer On A House

 

Now that you have found the perfect home for you and your family, now you need to determine how much you are wanting to offer on the property. There are a few things you want to consider when submitting your offer, below are a few questions to ask your agent when putting in an offer.

 

What similar homes sold for?

Once you have seen the comps in the area, you will have an idea of how much you should offer for the property. When searching, look for homes with the same bedroom/bathroom count, square footage and condition of the property. 

 

How long has the home been on the market?

The longer a home is on the market, the lower your offer can typically be. Once a home has been on the market for a while the seller is more likely to consider a lower price. 

 

What is the condition of the home?

Think about how much work and money you will need to put into the property. Check for things such as roof age, fountain,plumbing, water stained walls, and damage from pest infestation.

 

How flexible are you on price?

 

If the property you are submitting an offer on is at your max budget, there are a few things your agent can do on terms to help get your offer accepted. Aside from price you can shorten or remove contingencies, shorter closing dates, rent backs, closing cost, and no repair request. 

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