Even if you've been shopping around a lot you might still find it slightly intimidating to finally make an offer, and rightly so. Your initial offer will influence how much you finally end up paying.
People sell their houses for different reasons and it is possible that the seller of the house you're interested in doesn't want to move at all. It is nearly a given that the seller will be sentimental about the house and won't be as critical as you are. There is bound to be tension on the side of both buyer and seller that could influence the effect of your offer. An offer that is too low could insult the seller and cause him or her to be less willing to negotiate. On the other hand, if your offer is too high you will probably end up paying more than the seller might have been willing to accept.
People sell their houses for different reasons and it is possible that the seller of the house you're interested in doesn't want to move at all. It is nearly a given that the seller will be sentimental about the house and won't be as critical as you are. There is bound to be tension on the side of both buyer and seller that could influence the effect of your offer. An offer that is too low could insult the seller and cause him or her to be less willing to negotiate. On the other hand, if your offer is too high you will probably end up paying more than the seller might have been willing to accept.
"In order to estimate the value of the property, appraisers receive special training and have hands-on experience."
Doing some basic research before you make an offer is imperative. The prices that houses in the same neighbourhood recently sold for could point you in the right direction as can advertisements. In the latter instance keep in mind that asking prices may be inflated. Your Estate Agent will also be able to provide you with sound advice based on market analyses and experience in the field.
The estimated value of the property is based on various factors such as the general condition, size and location of the house, sought-after architectural features such as skylights and fireplaces and major structural improvements. An appraisal will always be performed by a lender when you apply for a mortgage. In most cases, your lender will hire an outside company to perform the appraisal so they have an objective evaluation of your home. In order to estimate the value of the property, appraisers receive special training and have hands-on experience.
The estimated value of the property is based on various factors such as the general condition, size and location of the house, sought-after architectural features such as skylights and fireplaces and major structural improvements. An appraisal will always be performed by a lender when you apply for a mortgage. In most cases, your lender will hire an outside company to perform the appraisal so they have an objective evaluation of your home. In order to estimate the value of the property, appraisers receive special training and have hands-on experience.
