Determining Your Offer Price

Buying real estate can become extremely competitive and if you're going up against other buyers for the same property it can all come down to your offer price. The seller needs to know that you are serious and are able to pay the amount that you offer and you want to make sure that you are getting a good deal on that Toronto or Bradford Real Estate while still staying competitive with the other people putting in offers. Here are some things to think about when you're trying to decide on the perfect offer price.

Check out the other homes that have recently sold in the area. If homes are selling for more than their listing price than you will know that you probably are going to have to bid high for the home you are looking at. On the other hand, if the other homes in the area have gone for much lower than their asking price or if not many homes have sold at all as of late, you may be able to be a little more conservative with your offer. It's likely that the sellers went over these market conditions with their Sutton realty real estate representative and expect offer prices to come in that are comparable with these numbers.

Decide on the top price that you are willing to pay for the property and take five to fifteen percent off of that number for your first offer. Many people get a little carried away when they know that they are going up against other buyers for a home and can forget about their budget. Even if the home you are bidding on is the best of all of the Houses for Sale in Woodbridge that you have seen, it is still not perfect if you need to bid above your price range to get it.

Assume that there will be negotiations between you and the sellers. Maybe instead of bidding with a lower offer price, you could ask that the sellers pay your closing fees or add in some extra appliances. This might put your offer ahead of one where the offer price is simply lower without any stipulations. When you're deciding what to ask for in the deal, make sure that you talk it over with someone with a real estate license in Ontario.

Most sellers are looking for an offer price that they feel is fair for their property. You want to bid reasonably within the listing price for that North York real estate without sacrificing your own financial situation.





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Thursday, May 23, 2019