Determining how much to offer for a home?

Buyer Need

Determining how much to offer for a home?

Now you're ready to make an offer. So many things to think about. One of the biggest thing to think about is how much should you offer?

In order to determine that, we have to do our homework. Your agent will prepare a Competitive Market Analysis (CMA) to show you what other buyers have paid for similar homes in the same area and in the recent past.

You'll probably want to pull the county records to see how much the seller paid for their home and when they purchased it - although how much someone paid for a home should not really affect what the value of the home is. But it might give you an idea of what is happening with the seller and why they are selling.

You'll want your realtor to talk to the listing agent to find out if there are any other offers AND to find out what might be most attractive to the sellers. For instance, the sellers may not have their new home picked out already and would really like to have a Post Closing Occupancy Agreement for 30 days - in other words, the buyer would allow the sellers to stay in that home for 30 days after the buyer purchases the home. That would prevent the sellers from making two moves - one to a temporary place and one to their next permanent home. That might be attractive enough to the sellers to tip your offer into the winning category.

If there are other offers on the table - in our current sellers market it is very common for the home to have multiple offers on it - you might want to position yourself to beat other offers. I have a secret clause that I use for my buyers who just have to have this home, but they do not want to overpay.

Whenever you are ready, here’s some ways that I can help with your real estate goals:

1) Free Access to search the Denver MLS for all homes currently on the market: Denver Home Finder Service Property Search

2) Join me for a home tour - Home tours are Monday thru Saturday at 2:00 pm or 6:00 pm - choose your tour here

3) Request a specific search that sends all the homes that meet your parameters as soon as they come on the market - that way you can beat others to the best homes. Send me an email with "specific search" in the subject line and your wish list - Price range, school district, style, minimum number of bedrooms, etc. - Vickie@DreamsCanHappen.com

4) Receive a Home Loan Report –There are so many different loan programs. Do you need 20% down payment to purchase a home? Are there special programs for first time home buyers? What does CHFA mean? What's the difference between a FHA loan and a Conventional loan? Send me an email - - Vickie@DreamsCanHappen.com with "Home Loan Report" in subject field and I'll send it right over.

Also….check these out??

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