COURSE INDEXPreliminary Questions
Home Buying Start & Registration
Budgeting To Buy a Home
Find Your First House
Inspect Before You Buy
Shop For a Mortgage Loan
Home Mortgage Loan Process
Credit Score and Credit Report
Home Mortgage Loan Closing
Being a Home Owner
Mortgage Quote Request
Get Started Below!
The amount of the offer should be determined after considering the factors listed below:
You cannot rely on the real estate agent alone for assistance in determining what to offer unless the agent is a buyerís agent. Remember, in most cases, the agent involved is obligated to get the highest price for the seller. Often, sellers are willing to negotiate their asking price. This is not a hard and fast rule; seller flexibility on the sale price is based on many factors. Some sellers are firm in their asking price and the real estate agent may tell the buyer this. If the buyer canít get the seller to come down to an acceptable price, perhaps the seller will make some additional improvements to the property if the buyer agrees to buy at the sellerís price.
Some buyers prefer to "bluff" or "low ball" the seller by offering a price that is well below what they are actually willing to pay. Though this strategy can sometimes pay off, it will occasionally backfire if the seller gets insulted and refuses to negotiate. It is better to be fair and reasonable.
The sellerís agent usually knows what price the seller will ultimately
accept for the house. The sellerís agent may tell the buyer that he or she knows
the seller will not accept the offer. Although the agent has a good idea of
what conditions will make or break the deal, he or she is legally obligated
to present all offers to the seller.
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Table of Contents | Homebuyer Course Start Page | Find A Realtor | Budgeting To Buy a Home | Neighborhoods | Find Your First House | Inspect Before You Buy | Shop For a Mortgage Loan | Mortgage Home Loan Process | Credit Score and Credit Report | Home Mortgage Loan Closing | Being a Home Owner
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