Helena Talbot's blog - The Top Six Questions That Will Help You Decide What To Offer

You have just found the home of your dreams; it has everything you have ever wanted and then some, but how do you know how much to offer without paying too much or offering too little.  Well, this is the age old question that most people have when put in the same position.    Well, that is what we are here to help you with.

Here are the top six questions to ask yourself when putting together an offer.  These questions will help you get to a winning offer quickly.

1.  What is the fair market value of the home?  Check out the competing homes in the area and what they are going for but make sure you are comparing similar properties.  Then find out how much those types of homes have sold for in that neighborhood over the past 90 days.

2.  How much can you afford?  You must make sure that you make an offer within the range of what is affordable for you.   You will want to also stay within your pre-approval range as well.  Does that neighborhood have HOA fees that you need to consider?  If so, then prepare your offer accordingly.

3.  Do you have competition?  Your agent will need to check with the listing agent to find out if there are any competing offers.   Even in this market there are some properties and some neighborhoods in which multiple offers are received.  If this is the case, your agent will need to find out how many offers are on the table.  If there are several offers, you will want to submit a higher offer.

4.  Has the listing been reduced?  Check to see if the listing has been reduced and by how much.  Are the sellers motivated?  How long has it been on the market?   Are there other homes in the area with similar price reductions?   How many days were there between each reduction?

5.  What is the condition of the home?  You will need to get a home inspection and find out how much each repair is going to cost and reduce your offer to accommodate those repairs.  The seller is probably already aware that they will need to reduce the price of the home if extensive repairs are needed.

6.  How much do you really want this house?  Of course you should not submit an offer that is way above the asking price or above the fair market value unless you have money to burn.  However, you may want to submit an offer that is closer to the asking price if you are really anxious to get the seller to accept your offer and not someone else's.

These are just a few questions that you should ask yourself before you sit down with your agent to put together an offer.   Take the time to submit an offer that works for both you and the seller and before you know it, you will be living in your new home.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.

I have over 25 years experience in the real estate industry.  As a Broker/Owner with Exit Realty Talbot and Company, I bring special tools and solutions that enable me to exceed the expectations of my clientele.  If you are considering listing your property in Loudoun County or the nearby areas, ask me about our latest internet marketing systems.  I would appreciate the opportunity to earn your business.  I am experienced in listing and selling short sales.  For information on the short sale process, please visit  www.LoudounShortSaleSolutions.com.

For a free market analysis on the value of your home, please visit http://www.LoudounHomeValues.com

My past awards and designations include – 2003 President of the Dulles Association of Realtors, 2003 Dulles Area Assoc Realtor of the Year, Salesperson of the year 2000 Dulles Area Assoc of Realtors,  Top Producer awards from both the Dulles Area Association and the Northern Virginia Association of Realtors.  I am a member of the Top 5 in Real Estate Network.

I have lived in Loudoun County since 1979.  I am married with two grown children and two grandchildren.  My son in law is my business partner in real estate.  I love to jog in the mornings and spend time relaxing on my Trawler during the summer months.

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax, Clarke, Fauquier, Prince William  Counties.  Our local neighborhoods includeLeesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.                        Cell 703.727.9885    Office 703.574.3800

Free iPhone/Android Mobile App to search Northern Virginia real estate.  2 easy ways to get the App:  Text “Exit9” to 87778 or enter http://87778.mobi/Exit9 into your browser.