Determining Your Offer Price
The Pricing Process
When you prepare an offer to purchase a home, you already know the seller’s asking price. But what price are you going to offer and how do you come up with that figure?
Determining your offer price is a three-step process. First, you look at recent sales of similar properties to come up with a price range. Then, you analyze the condition of the home and home improvements made to the property. It is important to consider current market conditions and the circumstances of the seller, if you can get the information. A motivated seller is likely to be more flexible during the negotiating process.
These factors will help you settle on a price you believe would be fair to pay for the home. Buyer's Edge Realty will work with you to identify a "fair" price, based on these factors, and to negotiate the best possible deal.
Next Topic - Analyzing Comparable Sales
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