BUYERS, HOW DO YOU DETERMINE WHAT TO OFFER ON A HOUSE??
WHAT HAVE SIMILAR HOMES SOLD FOR? Have your real estate agent
(especially one from Tompkins Cortland Real Estate!!) gather information on
recent sales or as we call them, a comparable. This includes the style of the
house, # of bedrooms, # of baths, square footage and the condition of the
house.
HOW LONG HAS THE HOUSE BEEN ON THE MARKET? If the house has been on
the market for a considerable amount of time, you can usually put in an offer
lower than the list price or at least negotiate until both parties are satisfied. If it
has recently been listed, you may consider submitting an offer at list price or
above list price.
THE CONDITION OF THE HOME? The condition of the home is another very
important factor in determining what you should offer. A home that is move-in
ready, with updated appliances, heating, etc. will receive higher offer amounts
than a fixer upper that needs a lot of repairs. Several structural items that you
need to look at while viewing a house are: Roof, cracks in the foundation,
plumbing, electrical, heating system, appliances, uneven floors, water stains,
pest infestation.
HOW FLEXIBLE ARE YOU ON PRICE? If your budget doesn’t have the wiggle
room to offer more money, you can entice the seller with various factors:
Remove the home inspection and radon contingency, move up the closing date,
if possible, prepossession or closing costs.
Good luck, buyers!! We hope you find the house of your dreams, with one of
our talented agents.
