We know that not everyone who comes to We Say Sold is looking to sell; some of you are looking to buy! If you’ve managed to find a home that you like, then perhaps it’s time that you made an offer.
Deciding how much to offer can be difficult, though. You want to select a bid that won’t be dismissed out of hand by the homeowner for being too low, but you also want to save yourself some money. How can you get things right? Well, make sure you’re considering the following when you’re arriving at your price!
- Other Homes: It’s possible that the homeowner might be shooting for the moon with their asking price. The only way to know is to research comparable homes in the area and to see what those homes have sold for. With these comp homes in hand, you can usually arrive at a bid that makes sense.
- State of the Market: Of course, there may not be a glut of other similar homes in the area that have sold recently. In fact, you may discover that the housing market in the home’s area is stagnant. If this is the case, your buying position is significantly strengthened.
- Seller’s Urgency: Even if the housing market is strong in the neighborhood in which you’re looking, the homeowner might be incredibly motivated to sell. If this is the case, going lower could work to your advantage – within reason. If the market is strong, though, and the seller isn’t looking to sell urgently, then you’ll need to come in closer to the asking price.
- Your Budget: You can only spend what you can afford. Before you go about the process of looking for a home, make sure you have a firm understanding of your budget and your limitations. Otherwise, you could be in for a lot of heartbreak!
Keeping the above things in mind should help you greatly when you’re making a bid on a house. Of course, choosing to work with a skilled realtor can help you immensely with the negotiating process! If you’re looking to purchase a new home – and if you need help selling your old home – then get in touch with We Say Sold! We have the skills to make things happen.