How to buy the house you want at the price you are willing to pay!
Found your dream home? Get ready to Negotiate. Your real estate agent will help guide you
through the process of making a purchase offer. Start by learning how much the property is
worth.
Compare to other like properties.
Your agent has up-to-the-minute price data that can help you analyze any comparable
properties. Although every home is unique, here's some of what makes a home "comparable" to
the one you're considering purchasing:
same neighborhood;
same age and condition;
same size lot;
same home style--equivalent living space, number of rooms and baths;
similar terms of sale;
Check the Prices!
Get to know the sales prices in your market place. A professional CMA will show you what recent
sold prices were in your area and the difference between list price and sold price. Make sure to
note the amount of time each listing was on the market.
Make a good offer.
Don’t low ball a well priced listing. Sure we all know that some properties are over priced, but you
could lose your dream home by not understanding the difference between a fair price and an
over priced property.
Make a priority list .
Assess what your priorities are before you begin negotiating. This will allow you to make quick
decisions and get what you want. This way you will know ahead of time what you are willing to
give up and what you simply can’t live without. The most frequently negotiated items are repairs,
what personal property stays and what goes, closing costs, and move-in date. Knowing exactly
what you want and where you are willing to give up will make negotiating less stressful and
quicker.
Be patient.
Negotiations may take several days. Remember this is one of the biggest purchases you will ever
make. Work with your agent to make sure you negotiate this transaction successfully.
Found your dream home? Get ready to Negotiate. Your real estate agent will help guide you
through the process of making a purchase offer. Start by learning how much the property is
worth.
Compare to other like properties.
Your agent has up-to-the-minute price data that can help you analyze any comparable
properties. Although every home is unique, here's some of what makes a home "comparable" to
the one you're considering purchasing:
same neighborhood;
same age and condition;
same size lot;
same home style--equivalent living space, number of rooms and baths;
similar terms of sale;
Check the Prices!
Get to know the sales prices in your market place. A professional CMA will show you what recent
sold prices were in your area and the difference between list price and sold price. Make sure to
note the amount of time each listing was on the market.
Make a good offer.
Don’t low ball a well priced listing. Sure we all know that some properties are over priced, but you
could lose your dream home by not understanding the difference between a fair price and an
over priced property.
Make a priority list .
Assess what your priorities are before you begin negotiating. This will allow you to make quick
decisions and get what you want. This way you will know ahead of time what you are willing to
give up and what you simply can’t live without. The most frequently negotiated items are repairs,
what personal property stays and what goes, closing costs, and move-in date. Knowing exactly
what you want and where you are willing to give up will make negotiating less stressful and
quicker.
Be patient.
Negotiations may take several days. Remember this is one of the biggest purchases you will ever
make. Work with your agent to make sure you negotiate this transaction successfully.