Writing An Offer
When we prepare an offer to purchase a home, we already know the seller´s asking price. But what price are you going to offer and how do you come up with that figure?
Firstly, we look at recent sales of similar properties to come up with a price range. This is called a Comparable Market Analysis (CMA)
Secondly we look at the condition of the home, what improvements were made to the property, the current market conditions, and the circumstances of the seller. This will help us get to the price we think would be fair to pay for the home.
Thirdly, depending on our negotiating style, we adjust your "fair" price and come up with what we want to put in your offer.
Once we find the home you want to buy, the next step is to write an offer - which is not as easy as it sounds. This is the first step toward negotiating a sales contract with the seller. Because of the large amounts of money involved, we want to build in protections and contingencies to protect your investment and to limit your risk.
It is most certainly more involved than buying a car and more important.
If you have an agent representing you, seller disclosures are automatic, even though many states, like Colorado, do not require individuals selling their own home to provide you with this information. They do not require banks selling foreclosed property to provide these disclosures either. Obtaining these types of disclosures should always be a part of your offer, and time is of the essence.
There may be times when we request the seller to pay all or a portion of your closing costs, or some other financial incentive. Whenever we ask for incentives such as these, you might find the seller less willing to negotiate on price.
For more information on buying your home - contact me!
|
Sallyanne Holmes - GRI
A Licensed REALTOR ® in the State of Colorado |
Merit Co Inc
6120 Tutt Blvd
Colorado Springs, CO 80923 |
Cell: (719) 660-0622
Business: (719) 596-7800
Fax: (719) 596-1784 |
Email: Sallyanne@homesforsaleco.com | |