Buyers: How to Know What to Offer...When You're Buying Your New Home

Dated: April 10 2024

Views: 62

Ok, so you found the home of your dreams and now it's time to write an offer... Do you HAVE to offer over asking price? What else can you include to WIN it? What's a TYPICAL offer look like? ⁠

⁠Never fear, your favorite real estate agent Angelica is here! ⁠

Here are some things to think about and talk to your agent about (hopefully me) before you hit SUBMIT 💰⁠

⁠1. What have similar homes in the area sold for recently? Is the asking price in line with the rest of the neighborhood?⁠

⁠2. How long has the home been on the market? If it's day 1 and there are multiple offers, you probably need to offer above asking. But if it's been a few weeks, you have more negotiating power.⁠

⁠3. What is the market like in the area? Is it a buyer's market, seller's market or balanced market?⁠

⁠4. Are there any other offers on the table? Multiple offers change everything. If you really want the house, you'll want to offer a price that is your highest and best...aka, if you don't get it, you'd sleep at night just fine because you know you weren't willing to pay one dollar more.⁠

⁠5. At what price would you feel that you "overpaid" for the home? Avoid buyer's remorse! Don't get caught up in the "game" of "winning" the house...make sure you're making decisions based off of your needs and not just doing whatever it takes to win.⁠

⁠Your agent (me!!) is there to help guide you through these factors and pull relevant information that will help you determine what price to offer, so many sure your agent is doing their homework and explaining these things with you. ⁠

Blog author image

Angelica Olmsted

Angelica’s path into real estate is rooted in a life full of diverse experiences and a deep appreciation for what “home” means. Growing up as an Air Force brat meant constant moves, and later, h....

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