Shopping for a house to buy can be fun, but it can also be a lot of work. At some point, you will find a house that you would like to buy, though, and then comes the hard part – negotiating on it. When you find the house you want to buy and are ready to put in an offer, here are three things you should evaluate to help you determine how much money to offer on the house.
1. Try to find out how motivated the seller is
The first thing you should do is try to find out how motivated the seller is. In some cases, the listings for homes will include a line that says, "motivated seller." A seller that is motivated is a person that really wants to sell. When a seller is motivated, he or she will typically be more willing to negotiate, simply because this person is highly motivated to sell. If a person doesn't need to sell, you might classify him or her as an unmotivated seller. An unmotivated seller is not as likely to negotiate, simply because he or she does not really need to sell the house quickly.
2. Evaluate the true value of the house right now
A second thing you should do is research and evaluate how much the house is worth. You can do this by talking to your real estate agent about it, or you could look up house values online. If you can find out the true value of the house, you could use this amount to help you determine how much to offer on it.
3. Factor in how badly you would like the house
Finally, you should factor in how much you want this particular house. If it is perfect for you, you might really want this house, and you should make sure you put in an offer that is high enough so that the seller accepts it. If you do not care if you do not end up in this particular house, you may be willing to take more risks with your offer. If so, you might want to offer a price that is significantly lower than the asking price.
If you do not know how much to offer for a house you want to buy, the best thing you can do is ask your agent. Your agent can help you choose a price and will write up your offer for you. For more information on single-family homes near you, contact your local realty group.