| So you found a home you want to buy and you | | | | value to the neighbors. You may want to overbid |
| think you are ready to go. However, there is one | | | | to ensure that you win the house you want. |
| problem. You do not know how much to offer. If | | | | - Your Agents Advice - If you followed my steps |
| your offer is too high, you can overpay and feel | | | | in the earlier chapter, then you need to carefully |
| like you were tricked. If you bid too low, you risk | | | | consider the guidance you receive from your real |
| offending the seller and watching helplessly as | | | | estate agent. Your real estate agent will be able |
| your dream home slips through your fingers. | | | | to let you know if your offer is reasonable and |
| When sitting down with your real estate agent | | | | thus, more likely to be accepted. |
| and attorney there are five different factors that | | | | - Sellers Goals - Sometimes sellers want to get |
| should guide your offer amount. | | | | rid of a home quickly and put their house on the |
| - Market Temperature - When there are more | | | | market to test the waters in order to see what |
| houses than buyers, then its usually a good time | | | | they might be able to get for their house. In |
| to snatch up a deal. However, if you are buying in | | | | either case your offer strategy would be |
| a more desirable neighborhood you may think you | | | | different so you need to learn as much as |
| are in a buyers market, but you are really in an | | | | possible about the sellers as you can. |
| isolated pocket which leans towards the seller | | | | - Your Goals And Mindset - Throughout the |
| getting close to asking price. Simply speaking, a | | | | looking phase you are going to see homes being |
| buyers market is a good time to bid low, while a | | | | put under contract days after being on the |
| sellers market requires offers to be closer to | | | | market. You will also see homes languish on the |
| asking price. | | | | market for many months. Your number one goal |
| - Recently Sold Comparable Properties - It is | | | | when thinking about an offer price is to NOT |
| important to remember that your offer should | | | | become emotional and make a quick, tired or |
| always be lower or comparable to what your | | | | confused decision about a home. Your decision |
| neighbors paid for their house. The reason why is | | | | should be ninety percent based on the numbers |
| because your mortgage lender will be doing the | | | | and facts and ten percent based on your emotion |
| exact same thing in comparing your appraisal | | | | and heart. |