Helena Talbot’s blog – Questions You Should Ask Yourself Before Deciding On An Offer Price

One of the most difficult things about buying a home is deciding on an offer price.  Your realtor will be able to assist you with this, but you should think about how much you are ready and willing to offer before you get to that point.  Most buyers today have so much information readily available to them that they are well prepared to make an educated office price. 

Here are a few things you can ask yourself to help you decide on a fair offer price.

1.  Stay calm and do not let the seller pressure you.

2.  Check the recent market comparables for that area and look for what similar homes  have sold for and why.  How long did they take to sell.  Ask your realtor to look beyond the comparables to find anything else that would better enable you to present and justify your offer. 

3.  How long has the house been on the market and why.

4.  What is the condition of the home in comparison to others you have looked at in that area.  If it is a fixer upper it may not qualify for certain financing.

5.  What upgrades have or have not been done to the home.  This will tell you what money you will or won't have to spend later.

6.  Look over the home disclosure very carefully for anything you may have missed initially.

7.  How many other people are looking at the home and are there any other serious contenders.  If there is competition for the home, you may want to consider offering the asking price or more just to secure the bid.   Ask your agent to find out if there is any competition for that home and how serious the buyers are.

8.  How badly do you want this home.  If you have been looking for a suitable home for a while and have not found what you are looking for until now, don't waste too much time trying to barter over a what will amount to a few dollars in the long run.  You don't want to risk losing the home to another buyer who slightly outbids you.

9.  Set a max price offer ahead of time and stick to it.

10.  Decide what you can comfortably afford.  Allow for life events such as repairs and maintenance and potentially losing your job etc. 

Ask your realtor to walk you through some pre-buying questions to help you determine some these things ahead of time.  The next thing you know, you will be living comfortably in your new home!

ioI 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.