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Thursday, September 25, 2014

Home Buyer Tips - The How much will a seller take?

Who doesn't want to buy at the lowest price possible?  So when a buyer has some interest in a property the questions start surfacing like...
  • How much will it take to get this house?  [This is always framed in such a manner as "What is the lowest the amount the seller will take?"]
  • Will the seller negotiate?
  • What is the lowest price I should offer?
Unless I am the seller I have no idea what the answer is to the first two questions although most sellers do negotiate some in the current market.

The buyer must decide the offer price but it is my job to provide comparable properties and information about trends that will allow the buyer to come up with an offer price.

The decision of how much to offer often requires consideration of multiple factors with the primary consideration being completely subjective - how attracted one is to the property/location.

So what is a reasonable offer?  It is one that is
  1. acceptable to the buyer, 
  2. supported by recent comparables, and 
  3. meets the buyer's objectives.
But sellers are really the ones in control of a real estate transaction.

So how much will a seller take?  

If you are serious lets put together a  reasonable "let's talk" offer and see where it goes.

If you are serious, act serious!
Terms define the REAL price.

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