How to Determine What to Offer for a Home

No buyer wants to pay more for a home than they have to. As Austin buyer’s agents, we will help you compose a purchase offer and negotiate hard on your behalf. How do we counsel our clients to make market appropriate purchase offers? Here’s how to determine what to offer for a home.

Consider the Market

A knowledgeable Realtor can help you understand the market. Not only provide you the recent sales data, but help you see where the market is today and where its headed. Ask your Realtor to discuss seasonal trends, give an historical perspective and help you interpret the numbers.

Review Comparable Sales

After you understand the current market, it’s time to take a look at past sales prices. An appraiser will use past sales prices to justify their price. It’s only fitting buyers should use the same metrics. Your Realtor will help you understand which homes are considered comps and which are not. Remember, past sales are only one component of the offer price strategy.

Go Inside Other Similar Homes for Sale

Check out the competition. Look at other homes for sale and see how they compare. Are they a better value than the home you are looking to buy?

How Much is the Home Worth to You?

Lastly, but most importantly, how much is this home worth to you? Buying a home to live in is more than just crunching numbers. If a home isn’t worth to you what the numbers say, it is not worth buying.

There is No Magic Formula

Because buying a house has an emotional component, there is no magic formula that will tell you exactly what to offer on a house. Go with your gut and take as much of the emotional component out of the negotiation as possible.

Looking for a Realtor Who Will Save You Money?

With our combined 55+ years in real estate, we’ll help save you money on your next home and will negotiate hard on your behalf. We’ll also help point out resale difficulties and problems that could cost you money when it comes time. Check out our Austin Home Buyer Program to learn a little bit more about us and how we work. Then, call us at (512) 827-8323, email us at info@11OaksRealty.com or fill out our Buyer Survey to get started with your Austin home search.