What Price Should You Offer on a Home?

San Francisco Real Estate Podcast with Durwin Cheung

If you’re interested in a home, what should you offer for it? Today, I’ve got some key tips.

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When you see a house you’re interested in as a buyer, what should you offer?
It’s easy to wonder when you see a list price whether you should offer more, offer less, or offer at the asking price. This is where your Realtor comes in. They will help you determine the best course of action.
One of the first things you should consider is the length of time the house has spent on the market. If a property has been on the market for a long time, don’t offer more than they’re asking. In fact, you should probably offer less.
Before coming up with a price, you also need to look at comparable properties. Look at homes that are similar in size, bedroom count, bathroom count, and other important aspects. What are they selling for? The patterns you might notice across these homes could help you formulate your offer.

The right Realtor will help you determine the best course of action.

But you can’t just look at the comparable properties. These properties are ones that sold in the past. You also need to look at what’s currently selling. Consider the level of interest being shown in those homes and in the one you’re interested in. The more people interested in a given home, the higher the price it will sell for.
This is what a good agent will do for you. They’ll consider all of these aspects and will also talk to the listing agent for you.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.