What to do before making an offer to a seller?
You’ve found the house you love and you’re ready to bid on yours. But before you take this step, there are many things to delete from the list of things to do. To avoid problems with your purchase and to avoid remorse from the buyer, perform these steps before you sign this purchase agreement:
Search the market to find the best offer
In a hot market, where homes are sold quickly and buyers are clamoring to buy houses (a “seller’s market“), you have less influence as a buyer than in a cool real estate market, where there is a large inventory of homes for sale (a “buyer’s market“).
So, you’ll want to know if the local market you’re looking to buy is a cool market or a hot market.
You can search for the temperature of your target market by consulting the statistics and market trends of the postal code on “HOUSES FOR SALE MIAMI“. This information will indicate whether prices are rising or falling, whether the number of homes sold is rising or falling, and what the average list price and the average selling prices are. The more information you have, the better you will be able to prepare an offer and the greater your influence at the negotiating table.
Compare the market
Contact to Yani Querol (Real Estate Agent in Miami) to help you get data on recently sold houses in your area that are closest to the one you are considering. (Houses should have about the same number of bedrooms and bathrooms as the house you are targeting, and be in the same condition.) These homes – called comparables – will give you an idea of what buyers may be willing to pay for the home you love – and how much you might want to offer, depending on when these homes were sold and if there have been significant changes in the market since then.
You should also look at the prices charged for local homes for sale that most resemble your target home and compare how these prices compare with the list price of your target home.
Check the houses
Find comparable accommodation, but don’t forget to check the comparable accommodation in person to get a real comparison between these units and yours. Statistics and numbers say a lot about a house, but they can’t fully express the look and feel of a house.
Check the price history
See when the seller bought it and for how much he bought it. A seller who bought a house several years ago at a relatively low price may be more willing to negotiate the price than one who recently bought the house at a relatively high price.
How long you home been for sale?
In real estate jargon, the duration of a house sale is called “days in the market“. You can find out by checking the period of time the house is listed on “HOUSES FOR SALE MIAMI” or by working with a real estate agent to find out how long the property has been for sale.
The longer a house has been on the market, the more a seller is eager to sell it. Also, a homeowner who has just registered his home for sale is less likely to accept an offer below the asking price than a homeowner who has been waiting for a buyer for months.
Inspect the property
Look beyond the recently painted interior and the well appointed inner courtyard of the house to determine the current state of the property. If you are uncomfortable, bring a friend or family member who could easily identify expensive and embarrassing problems such as roof leaks, foundation cracks and significant termite damage.
Commuting tests to and from work
Even if the house turns out to be a jewel on closer inspection, it might not look like a jewel if the journey between work and the new house is a bear. Try the morning and evening trips to see how bad – or good – the driving is.
Explore the neighborhood
A house does not exist in an empty space – it is in a neighborhood full of neighbors, noises and even smells. Learn about the environment of the house to determine if it is right for you. It is better to visit the area at different times and days, because a quiet area during the day can jump at night (or vice versa).
Getting a second (or third) opinion
Sometimes love at first glance is blind, and a house that has seen you at first glance may turn out to be everything you wanted (or everything you never wanted). Ask a friend