You have finally found the perfect home for you and your family. But how do you make an offer on it? There are actually a lot of things that go into making the best offer possible. So let’s take a look at what you will need to investigate before submitting an offer.
The Market Temperature
Part of what determines a house’s worth is the market temperature. In a hot or seller’s market, a seller might not take any offers less than the home’s value. In a cold or buyer’s market, a seller may take any offer, even if it means losing money on the home’s value.
Look at the Comps
Comparable sales can help gauge a home’s worth by looking at houses in the area with similar features. It is important to look no later than six months prior to bidding on a house because of the market shifts that could have happened. They should be comparable by features, sizes, and ages to gauge the true value of the home.
Ask Around the Neighborhood
When you go to visit the home, stop and talk to some of the neighbors. Ask about noise levels, crime rates, schools, and if there is any planned construction. A picture perfect neighborhood might horrible parking or be too close to train tracks. Your potential neighbors will be able to tell you all the quirks of the neighborhood.
Protect Yourself with Contingencies
Contingencies are a buyer’s best friend. If you agree to purchase a home only to find out it needs expensive repairs, a contingency can help lower the price and save you from a mistake. There are some conditions that must be met before a deal is final and they help protect you. But some contingencies can make seller weary so be careful and sweeten the deal by letting your seller know you are preapproved for a mortgage.
Before submitting an offer, don’t forget to ask your Simply Referable agent’s opinion. They will be able to give you their advice on how much the house is worth and how the market it. Your agent will also work hard to research a home for the best price and the best price negotiations to get you the terms you want. For more information on buying your new home, call Simply Referable today!
Submitting an Offer with Simply Referable!
The small team of realtors at Simply Referable is deeply focused on creating a memorable selling experience for you and your family. Each of our team members has an area of expertise, and we strive to form lasting bonds with each of our clients. We want to be your go-to realtors every time you or a friend wants to make a change. With local experience, our realtors can help you choose a house that is just the right fit for your family, now and forever. Contact us online or give us a call at 410-983-9045.