Hi I am Anthony Lamacchia and in this video I am going to answer the most common question we get from buyers…which is… “how much do I offer on a home?”
For example we often hear questions like: “If a home is on the market for $400,000 what do I offer?”
Or… “how much less than the asking price should I offer?”
Well it all depends on how well the home is priced.
If it just came on the market and it is well priced compared to other homes in the area, then you will probably need to offer very close to the asking price or even the asking price in order to have a shot at getting it.
If the home has been on the market for a long time at $400,000 and it is not selling, it is likely because it is not worth $400,000, so you should offer less.
The three most important things to take into consideration when making an offer are:
• How long has the home been on the market?
• How long has it been on the market at its current price?
• And, how does it compare to other similar homes in the area?
A good buyer’s agent will conduct a detailed market analysis to help you determine what the value is based on recent sales in the area and the condition of the home. They will do everything in their power to help you obtain the home for as little as possible. To learn more about hiring a buyer’s agent please view our video on “The Importance of Having a Buyer’s Agent.”