Say you've finally decided the new home you want out of all the others that you've looked at.
It's now time to offer a price to the seller.
Coming up with this number can be a bit tricky since you don't want to low-ball too much and risk offending the seller.
Neither would you want to offer too much just to get the home immediately.
Here's some advice: 1.
Ask your agent.
Of course, this should be automatic if you are working with a real estate professional, but for those of you who aren't, do so! Their services will save you a lot of time and energy.
2.
Consider the home's history.
The seller might have bought it during a down time in the market and you should be able to offer something near to what it was bought for.
3.
Compare to similar houses.
In your search for your new home, you would have likely come across houses that have similar features.
Use their prices as base estimates for your offer.
4.
Set your limit.
Decide on the maximum amount you are willing to spend at the beginning of your search.
Never offer more than you can comfortably spend.
Try explaining this to the seller and see if they will accept a lower offer.
5.
Use home inspection.
If they find faults or damages in the property, always use them to negotiate money off the asking price.
In the end, always make sure that you are comfortable with any offer that you give to the seller, and worry about their reaction later.
If the two of you can't come to an agreement, well, there's plenty more real estate out there!