Determining Your Offer Price   
When you prepare an offer to purchase a dwelling, you already know the seller’s asking price. But what cost are you going to offer and how do you come up with that cost? Determining your offer price is a three-step process. First, you look at recent sales of similar properties to come up with a price range. For example, if you are buying in Medina, Ohio,  search in Medina County Ohio for similar houses. Then, you analyze additional data, such as the condition of the lot, improvements made to the dwelling, current market conditions, and the circumstances of the owner. This will help you settle on a price you think would be fair to pay for the lot. Finally, depending on your negotiating style, you adjust your “fair” price and come up with what you want to put in your amount.        

How Property Condition Affects Your amount

Since you have toured the lot you are interested in, you should know how it compares to the general region. All you have to do is put the dwelling in one of three categories – average, above average, or below average. When evaluating a structure’s condition, there are a number of things you should look at. Structural condition is most important – items such as walls, ceilings, floors, entrances and windows. Then paint, carpets, and floor coverings. Pay special attention to powder rooms and bedrooms and whether the plumbing and electricity work well. Look at the fixtures, such as light switches, doorknobs, and drawer handles. The front and back yards should be in reasonably good condition. The missing factor will be information on the condition of the homes from your comparable sales list. Provided you chose the right salesman to help you, they will have actually visited most of those dwellings and be able to provide key details. For more information on offer price strategy, visit the Hassler Group’s Website.