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When You Find The Home You Want, How Much Should You Offer?

This is when your real estate broker can help you the most.

Your Realtor will do a comparative analysis of similar homes in the neighborhood which are currently on the market, under contract, and those that have closed in the recent past.

They will give usually give you a small range in which they see the home selling for.

Remember, this figure is a recommendation; the amount you offer is always up to you.

You need to take into consideration how much the mortgage will be, make sure you can really afford what you are offering.

How much you really want the home may also affect the price you offer.

What If Your Offer Isn’t Accepted?

Well, Offers are very often rejected which doesn’t mean “game over.” They often are!

But don’t let that stop you.

You may receive a “counter-offer” from the seller.

Now you begin negotiating. Your broker will help you.

There are several terms in the contract that you can adjust in addition to the price to make your offer more appealing.

Often your Realtor might learn the seller has a specific date they are looking to close on or maybe they would like to see a slightly higher down payment.

You may have to offer more money, but you may ask the seller to cover some or all of your closing costs or to make repairs that wouldn’t normally be expected. Often, negotiations go back and forth several times before a deal is made.

So What Will Happen At Closing?

The closing will usually take place at either your attorney’s office, the seller’s attorney’s office, or in some cases the real estate brokers office.

The closing agent will have a large stack of papers for you and the seller to sign, he or she will give you an overview of each paper, and you may want to take the time to read each one or consult with your agent about what it is that you’re signing.

Be sure you have review your “good faith estimate” and have the appropriate amount of funds at closing.

After that, the keys are your and “welcome home”

Now is the time to understand all your options when working with a Real Estate Investor (hint: we buy and sell houses with negotiable terms and price).

http://www.BuyHousesStPaul.com/

I’d be happy to set up a FREE consultation with you to help you achieve the dream of home ownership.

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