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| How
Much Should You Offer? |
How
much you offer should be dependent on many things. Do
you want to offer above or below the asking price? Maybe
you are thinking of offering the asking price. Ask the
advice from your agent and consider the following before
making a decision on how much to offer:
- Most homes sell for an average of 5-7 % lower
than the asking price.
- Is this a buyers or a sellers market? Depending
on the type of market you may be able to offer lower
than the asking price and still feel the offer will
be taken seriously. However, if you are in a sellers
market, it may not be the best course of action while
securing the home.
- How motivated is the seller to sell? Ask
your agent or look for signs such as how long the home
is on the market and whether the seller has lowered
the asking price and how many times?
- Compare the asking price to that of similar homes
in the area. You could ask your agent to help
you with it or you could organize to have an appraisal
completed.
- How much can you afford and can you afford this
home? At this stage you probably have calculated
how much you can afford. If the home is a little pricier
than you originally planned on spending and you still
want the home, you may need to think of where you
can get the extra funds.
- How motivated are you to buy? If you really
want the home, you may want to make an offer equal
to or greater than the asking price.
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