How Much to Offer???Posted Friday, August 15, 2014
Figuring out how much to offer for the real estate you want to buy can lead to sleepless nights. You don’t want to offer too little and lose the home, but you don’t want to offer too much and overpay.
You may ask your real estate agent how much you should offer. Real estate agents can guide you, the buyer, but don’t expect the agent to name your price. Your agent will suggest price ranges and offer market information to help you make your decision, but the final offer is your decision.
Why don’t real estate agents simply tell you exactly what you should offer?
- They aren’t mind readers. Yes, real estate agents have more knowledge about the market value of real estate than non-real estate professionals. That doesn’t mean they can get inside the minds of the sellers and tell you that magic number that’s not too high and not too low.
- They might recommend a price that is lower than the seller is willing to take. If the agent suggests a price that turns out to be too low, some buyers blame the agent for causing them to lose out on the property.
- They might suggest a price that the seller snaps up. If your offer is immediately accepted, you may wonder if you could have offered less, or if the agent is working in the buyer’s best interest.
- It is not the agents’ purchase. It will be your home, not the agent’s, so the final decision is up to you.
A good agent will provide enough information to allow you to make the best offer possible based on previous sales in the neighborhood and market pricing.
If you’re interested in buying real estate, please call or email me today.