Found your dream home? This is when the negotiating should start. As your agent, we will advise you as you make your offer to the seller. First you need to learn how much the property is worth.
Be sure to look at comparable recent sales with your real estate agent, since he or she has very recent price data to evaluate the houses you like. It's not just "location, location, location" when looking for a home that's "comparable" to the home you're looking to buy; we're looking for same neighborhood, same age and condition, same lot size and same home style - in terms of square footage, number of rooms and baths, and terms of sale
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Ask about recent pricing trends in the neighborhood. what has been the average difference between listing price and sales price for recent sales of comparable homes? How is the assessed tax value related to what it could actually sell for?
Offer what u think the house is worth Some asking prices have built-in padding, but others r already priced to sell. You could lose a home having a right price with a low-ball bid. A lower mortgage interest rate means a lower monthly payment. If you have a set payment in mind, a lower interest rate will allow you to borrow more for the same payment.
Consider getting a pre-purchase appraisal and home inspection. An appraisal will tell you what a fair house for the price might be, and an inspection alerts you to potentially expensive issues the average person would miss. a contingency making the contract subject to a satisfactory appraisal and inspection.
Look at all the contingencies specified in the contract, including attorney review, sale of the previous home, and acceptable mortgage loan terms. An offer should be accepted smoothly when contingencies are used wiht no delay in the final decision. Too many contingencies, however, weaken ur bargaining position.
Make a list of what you value most about the purchase before you make it must" and "want" And come up with s decision where you have an agreement room-- what you'll sacrifice or acknowledge to substitute for a compromise.
Frequently adjustments can be negotiated for such items as necessary repairs, points and closing costs, the transference of any personal property, and move-in date. Any good negotiator will tellyou first and foremost that you have to know what you want, and how much you are willing to pay.
Put everything in the 1st purchase offer
If the 1st offer is accepted it may be too late to add anything. A financial statement needs to be included. Do all negotiating in writing with a deadline for a response You can cancel the order up until the time it is accepted by the seller. You must have your binder or deposit to be held in an escrew account and the interest credited to you.
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Be Patient,as the negotiations can take several days. u won't want to rush into one of the most important purchases u'll ever make.
We're here to help. If you want us to help you find your dream hosue, call or visit us at www.SoCoRealEstate.com! We can help you find a home by giving you all the pertinent information we have at our disposal that will enable you to make the best offer for the home that works for you. Search latest Sonoma County Real Estate Listings at www.SoCoRealEstate.com