How Do I Know How Much to Offer?

League City, Texas - Homes For Sale

Two of the most frequent questions I receive from potential home buyers are:

1. How much should I offer for a house? And
2. What is the normal concession from the selling price?
   

Unlike the automobile business, (one of the other major purchases where prices are negotiable) real estate does not have an established selling price or a specific cost. It is impossible to give "standards" as to what is fair as every property stands on its own price and merits.

This is where a Brian Worrell at Prudential Gary Greene Realtor® can be invaluable. Constantly attuned to the latest market data, value assessment is our specialty. I can develop a Home Price Evaluation for homes in which you are interested. It is far more in-depth than the one found on our site or any other. A Home Price Evaluation considers age, condition and location in respect to the most recent comparable homes sold in the area. In this way, when you make an offer, you will have a good idea of what the home is worth and can establish a price point to begin negotiations. In addition, the list/price sale price ratio of comparable homes is also a good indicator.

Example: If homes that have sold in the area were listed for $100,000 and the average list/price sale price ratio of the sold homes is 98%, then the homes actually sell for an average of $98,000. This is a helpful metric to establish a starting price point in negotiations.

I look forward to assisting you with more specific guidelines for the specific home you would consider making an offer to purchase. I hope this information has been helpful to you and I look forward to assisting. Please feel free to contact me at anytime, 281-948-7042.