Deciding on How Much to Offer
So, how do you decide how much to offer on a home you like?!
That’s a tough one to answer because it depends on a lot of factors:
Are there other offers coming in?
How long has the home been on the market?
What is the owner’s situation?
What terms (besides money) can you offer the seller?
What is the overall market like?
Those are just a few of the factors we’ll consider.
But regardless of “factors”, we’ll also look at the sales data in the MLS to determine how much the home is truly worth by looking at how much other similar homes have recently sold for.
Ultimately, it’s your choice how much you want to offer initially and how much you’re willing to go up to in order to get the home.
“Market value” is essentially driven by what a ready, willing, and able buyer is willing to pay for a home. But it’s also dependent upon how much a ready, willing, and able seller is willing to accept.
We’ll do everything we can to help you understand the market and value of the homes you’re considering. We’ll give you our perspective and advice as your agents, which should put you in good position to get a home for as low as possible, while still submitting an offer a seller will consider and hopefully accept. Because coming in with too low of an offer, at least without justification, can hurt your chances of getting a home at all, let alone at a good price.