Determining a Home's Value

No matter how seasoned a buyer may be, no matter how many homes you've purchased or what you know about the market value of homes in your area, it can still be unsettling to make a formal offer. Below are some ideas about what you should or shouldn't do when making an offer on a home.

Don't bid too low - you'll regret it and you may make the seller nervous.

Don't bid too high - you may never find out if the seller had a lower point and might pay too much for the home.

Obtain a market value analysis of the home before offering - most agents will do this for free

Make sure the agent you're using is a buyer's agent, not a sellers.

Contact your county courthouse and find out how much the seller paid for the home.

If you attend open houses, keep the listing sheet. Later you can see which homes sold and for what price in order to help you make your bidding prices accurate.

Check out advertised homes in the area to get an idea of asking prices - keep in mind the asking price is often a little higher than the selling price.

Consider other factors - how long the home has been on the market, motivated sellers or not, repairs or other updates needed, etc.

Finally, your offer should come based on research and instinct - don't underestimate the importance of either factor.

Mortgage Website Design and Tools - Demo Site Although the Loan Site Plus is easy and pretty much self-explanatory, we know there are some of you that like to "test-ride" before making that buying decision. Give us a call toll free at 877.201.3060 and we'll have a representative walk you through an actual demo account on the phone. Use the contact form below to if you would like us to contact you. We'll be happy to discuss our site packages in detail with you. First Name: Last Name: Email: Phone: Comments: