Are you ready to make an offer on a home? If so, we suggest checking out this post so you can make your offer as an informed buyer!
1. Check Out the Home’s History
Sure, the house looks great, but have you checked out the history of the home? You and your real estate agent should look together through the history to see if there are any red flags that pop up.
Some things to consider are how long the house has been on the market, if the house went under contract then ended up back on the market, and if any pricing reductions were made.
We also highly recommend having your agent contact the listing agent to find out any of this information, or additional information, such as why the seller is selling their home.
2. Research the Neighborhood
Before making an offer, you’ll want to take a look at the neighborhood. We suggest driving through during the day and at night to check it out for yourself.
During the day we suggest taking a look at other homes, businesses that may be right outside of the neighborhood that could potentially cause more thru traffic, or people you may not want wandering around your neighborhood.
At night, we suggest checking out street lighting and if the neighborhood is well lit. Along with this, just keep an eye out on any potentially suspicious activity!
Even if you don’t notice anything suspicious, we highly recommend checking out ADT crime maps to get a better understanding of how safe you’ll be in your new home!
3. Take a Look at the Market
While it’s important to check the history of the home you’re interested in, you’ll also want to check on other houses in the area. Take note of any houses for sale, under contract, or that have sold recently.
You’ll want to compare these houses to what your house is currently listed for. Is this home the most expensive? Least expensive? Or does it fall somewhere in between? These are important things to consider, and typically you’ll want your home to fall somewhere in between.
4. Consider Finances
If the house is well within your price range, you will also need to take other things into consideration that you may end up spending money on.
For example, if the roof is 20 years old, you should expect to have to replace it in the near future. Anything that is outdated, such as the water heater, HVAC, and so on, will be more money out of your pocket. Keep all of these things in mind before you make your offer on the home!
5. Be Prepared to Negotiate
In today’s market, negotiation is almost guaranteed. While you want to make a strong offer, it’s important to remember there may be a dozen others who also make a strong offer on the same home.
Some things to consider that may make your offer stand above the rest would be flexible move-in dates, a higher price, or minimal contingencies. However, we strongly suggest never waiving the inspection contingency, as this can cause you a major headache down the road.
Team Crescenzo is here to help you during your home buying journey. Contact us today if you have any questions, or if you’re ready to apply for a home loan!