Вы просматриваете: Главная > Room > What you need to know about making offers for real estate

What you need to know about making offers for real estate

What You Need To Know About Making Offers For Real Estate

After going through an effort of looking for the best property that will meet your requirements, you finally have seen the one that fits in your budget range and matches the configuration that you have set. This is now the time for you to approach the seller and make an offer to buy the property. However, before making that major move, it is important to do a few things as part of your homework to make sure that you are ready to go to the next step.

1. Determine the market value of the property.

You cannot just approach a seller and offer a price if you do not have an idea of what the going rate of home values in the area. You have to check on the comparable and competitive pricing of similar properties. You can easily get this information by checking on multiple listing services or by consulting with a real estate agent. There are also real estate ads that are posted in your local newspaper. By looking into these resources, you will have an idea of how much the properties cost in the specified area.

This is easy to do if there are many homes for sale in the area. However, if there are few and if the configurations are different, you can check on public records and get the information about the properties in the area. You will get the age of the house, homeowner, days in market, configuration, area and other relevant information such as foreclosure notices, when applicable. This will help you determine the right amount to indicate in your offer.

2. Investigate on the condition of the property

Even if you already have gathered information about the property, you still need to know the actual condition of the house. This will determine the extent of repair and improvements that you still need to do when you buy the house. You can hire a home inspector to do the work and check on the plumbing, electrical connections, construction standard, foundation and all other relevant requirements that will affect the total pricing of the property.

You can also use this information to inform the seller about things that still need to be done to meet your expectations before buying the house. You can use a property condition disclosure form that will protect you from unexpected circumstances associated with the quality and condition of the house.

3. Determine the number of days the property is sold in the market

If the property has been in the market for a long time, there must be a reason. Investigate on this and when you have discovered the main reason, you can ask yourself if you still want to pursue with the offer. You may find out that the area is a flood-prone place or it stands on a contaminated piece of land. There may be some other reasons. It can also mean that the real estate business is not at its peak and this can be a good reason for asking for a good deal. You will have to be diligent in getting the right information before making the offer to buy a property.

Making an offer is a critical decision in the real estate field. You have to make sure that you have thoroughly and diligently done your part. This way, your chances of committing a mistake is low and you will end up happy with your decision to buy the property.

  • Добавить ВКонтакте заметку об этой странице
  • Мой Мир
  • Facebook
  • Twitter
  • LiveJournal
  • MySpace
  • FriendFeed
  • В закладки Google
  • Google Buzz
  • Яндекс.Закладки
  • LinkedIn
  • Reddit
  • StumbleUpon
  • Technorati
  • del.icio.us
  • Digg
  • БобрДобр
  • MisterWong.RU
  • Memori.ru
  • МоёМесто.ru
  • Сто закладок

Метки: , , , ,

Оставить комментарий