Writing
an Offer
 Writing
an offer is often viewed as a complicated
process, but it does not have to be. The
buyer already knows the price that the seller
is asking for, so all the buyer has to come
up with is an offer that can satisfy the
seller as well as get themselves a good
deal. Writing an offer that will please
both parties can happen, if you take the
right steps and have a negotiation-savvy
real estate agent by your side.
First,
you will want to look at all of the homes
in the neighborhood. To get a good estimate
of what the value of homes are worth, have
your agent check out a recent sale that
matches the house you are looking at with
the size, number and beds and baths, and
the lot size. This will determine an estimated
value of the home you wish to buy.
Next,
you will want to inspect the home’s
condition. The first element should be the
structure — this is the most important
part of the house, including walls, floors,
windows, doors, and the roof. You should
also consider the cosmetic elements of the
home, including paint and carpeting. Water
pressure and drainage should be checked
as well.
After
that, you will want to ask a lot of questions.
Ask about any home improvements that have
been made. Ask about how those were dealt
with (did they get permits, were they major
improvements, etc.). Room additions and
granite counters in the kitchen are always
a plus. If there are any expensive floors
or pools, these should be taken into account
as well. Your real estate agent should be
able to provide you with the seller's disclosure
on the house.
A
big part of what you need to look for is
the seller’s motivation. Why are they
selling the house? How motivated are they
to get rid of this one? Sellers who have
already purchased a new home will be more
motivated to sell their current home quickly
to avoid double mortgage payments. Divorces
can also cause quick sales. If a seller
needs to get out fast, this is the chance
to get a property for a few thousand dollars
less than the market value.
Notice
if any market conditions have changed in
recent months. If homes are staying on the
market longer, then you will probably have
a chance to pick up a great bargain on the
home you are buying.
A
real estate agent is the best person to
assist you in writing an offer. The offer
is really up to you, what you're willing
to pay, and how much you feel the house
is worth. Most buyers end up offering a
price that is less than what they will actually
pay. But knowing how much you are willing
to pay in the end will help the process
and give your real estate agent the leverage
for negotiation.
©
Copyright 2008
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