Due to the nature of today’s fast paced market, a strong offer on your desired property is important. Tami can help you structure an offer that stands out from other competing offers and gives you a better chance of obtaining that property. Tami has relationships with other brokers and is known for her ability to work with all parties in a transaction to make it as seamless as possible.
Three things to keep in mind when making an offer are:
- How much is the property worth?
- How much can I afford?
- What am I prepared to offer the seller?
The offer may consist of several factors including:
- Price
- Closing Costs
- Escrow time
- Personal Property
- Financing
- Timing
- Contingencies
- Emotional Appeal
How much is the property worth?
To determine a property's value a standard measure is to use comparable properties as a basis, or “Comps”. This method estimates the value of your property based on what similar properties have recently sold for in your neighborhood. Additionally, one needs to consider how this particular property differs from the comparables. This would include relative location to a better or worse part of the neighborhood, if the property has any views vs. the comparables, what is the current property condition, etc. Assessing these factors will give you a better handle on the properties worth.
How much can I afford?
Based on the pre-approval from the mortgage broker you know what you can actually borrow from the bank. However, this may be more than you are comfortable spending. Once you determine where your comfort level is with payments and loan options you can determine where your maximum amount will be. This is a very subjective question and it will differ for all buyers. You can talk to Tami about what might be best for you.
What am I willing to offer the seller?
It’s at this point that you can make an offer. We’ll work with you to determine what makes the most sense in this situation. We’ll monitor and adjust our wants and needs as necessary and formulate a strong offer based on all the factors listed above.