Helena Talbot’s blog – How To Submit A Fair Offer Price

Have you found a home that you would like to make an offer on?  But are not sure how much you should offer without offending the seller and still get the best deal you can possibly get?   This question is one that puzzles most everyone that has ever bought a home.  So let's talk about what consists of a "fair offer price".

You already know the seller's asking price so that is the easy part.  But how do you go about figuring out what to offer?  Here are a few steps you can take to determine a fair offer price.

1.  Look at what recent homes have sold for in your area.  Don't look at what they listed their home for but what they actually sold for.  

2.  Remember as you are looking at this data to also look at the condition of the homes, the improvements that were made to those homes, the current conditions of the market and the reasons for the sale of those homes.  For example, was the seller desperate for the sale etc. as this can play a major role in the sales price and can skew the numbers if you are not careful.

3.  Check the current competition in the area.  Are the comparable homes close to the one you are looking at, is the home comparable in square footage, the number of bedrooms and bathrooms.  Is the garage the same size.  Is the property lot the same size.  Also, look at the type of home it is - is it the same type of construction.  If it is a tract home with many other exact same homes in that area, you will be better able to compare it against an exact match for the most part.   

It is really important at this point in the home buying process that you sit down with your realtor and go over all of this information.  Your realtor knows the market inside and out and can advise you on how to put together a fair offer price.  You really don't want to do this without the help of a licensed professional.  Your realtor has access to resources that you don't to help determine what should be factored into a good offer.  Remember, if you get this step wrong it could cost you thousands of dollars over the life of the loan.  So talk to your realtor today.

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.