HomeBuyer Tips
What amount should I offer on the house?
By Kurt Petrich REALTORŪ - (757)695-5878 cell
Apr 9, 2006, 22:43

Once you find the home of your dreams, and you know the asking price... what amount do you set your opening bid at?

It depends. Even though there is a list price or asking price, there really is no exact price. Any home is really worth what the buyer is willing to pay. The market determines the value.

Base your opening bid on the sales trend of similar homes in the neighborhood. Consider sales of similar homes in the last three months. If homes have recently sold at 5 percent less than asking price, then bid about eight to 10 percent lower than what the seller is asking for.

Remember, that no matter what your offer is... the seller can always counter your offer with something else. Your first offer doesn't have to be perfect.




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