You’ve spent months searching for the perfect home. The one that checks all the boxes, your 4 bedroom, 2.5 bath dream house with a two-car garage on the most beautiful 1 acre of property you Have. Ever. Seen!You’re bursting with excitement. Finally, this is it!
But how much should we offer?
Wendy D’Andrea Phillips offers some advice from her years of experience helping home buyers craft winning offers.
Here’s what you should consider:
– Comparable Sales: Careful analysis of similar properties that recently sold will give you a solid base to build your offer. What a property sells for determines value.
– Competition: Are there any other offers on the property? If so, how many? The more interest there is, the less negotiating power the buyer will have.
– Time on market: How long has the property been active? If it’s brand new to the market, there’s a good chance the sellers won’t consider a counter below list. If the property’s been on for a while, there’s a better opportunity for negotiation.
– Your emotional attachment: I always ask my buyers, will you be devastated by losing this home? If the answer is yes, then should put your best foot forward initially.