Your Home Orlando

Once you’ve chosen your dream home, it’s time to make an offer. 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 additional data, such as the condition of the home, improvements made to the property, current market conditions, and the circumstances of the seller. This will help you settle on a price you think would be fair to pay for the home. Finally, depending on your negotiating style, you adjust your “fair” price and come up with what you want to put in your offer.

Gathering and analyzing information from comparable sales helps to establish the range of prices you should consider when making an offer to buy a home. More weight should be given to the most recent sales, but even so, you need to do a bit more analysis before setting upon the price you will offer. That is because you also need to consider the condition of the property, improvements, the current market, and the circumstances behind the seller’s decision to sell.

Once again, it is a very good idea to work with an agent, as your agent will guide you through this process, and prepare for you the “Comparative Market Analysis” for free, so you definitely know the fair value of the property. Also your real estate agent should explain to you the condition of the real estate market. If it is a “sellers’ market” then there is not too much room for negotiation, but if it is “buyers’ market”, then you definitely should negotiate a lot.

There is a lot of legal paperwork involved in making an offer, but your real estate agent will be providing you with a contract, all necessary disclosures (there are quite a few), obtaining all necessary disclosures from the sellers, handling all offers and counter-offers