HOW MUCH SHOULD YOU OFFER ON A HOUSE?

 
      The advertised price of the house. Treat this as only a rough estimate of what the seller would like to receive, and recognize that different sellers price houses very differently. Some sellers deliberately overprice, others ask for pretty close to what they hope to get and a few (often the cleverest) under price their houses in the hope that potential buyers will compete and overbid.
 

What you can afford?
     As a broad generalization, most people can afford to purchase a house worth about three times their total (gross) annual income, assuming a 20% down payment and a moderate amount of other long-term debts, such as car or student loan payments. With no other debts, you can probably afford a house worth up to four or even five times your annual income.
 

Prices for comparable houses!

     These should not be older than 6 months and in some markets 30 days.  Home should be comparable in terms of age, size, and type and number of rooms.
 

Whether the local real estate market is hot or cold.
     In competitive areas, homes sell quickly -- often for 10%, 20% or more above the asking price. In a slow market, however, you'll have more room to negotiate with the seller and may get a bargain.
 

The seller's needs.

     Your flexibility and sensitivity to the seller's needs -- whether it's extending the closing date for a seller who can't move for a few months or paying for repairs -- may make or break your offer.
 

Whether the house is uniquely valuable to you.
     Don't get so carried away with judging objective market
RE/MAX LAKE LIVINGSTON
1936 HWY 190 WEST
LIVINGSTON, TEXAS 77351
OFFICE:866-327-0132
mailto:homes@lakelivingston.net

 

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polk county real estate inc.

 
Broker does not make any representations, warranties or covenants of any kind or character, whether express or implied, with respect to the quality of condition of the property, the suitability of the property for any and all activities and uses which Purchaser may conduct thereon, compliance by the property with any laws, rules, ordinances or regulations of any applicable governmental authority, or habitability, merchantability, or fitness for any particular purpose, and specifically; Broker does not make any representations regarding hazardous waste, as defined by the Texas Solid Waste Disposal Act and the regulations adopted there under, or the United States Environmental Protection Agency regulations or disposal of any other hazardous or toxic substance in or on the property; or the Endangered Species Act of 1973; or for live oak decline, oak wilt or any other natural phenomena. All information furnished is from sources deemed reliable, but no warranty or representation, expressed or implied, is made to the accuracy thereof, and is submitted subject to prior sale, withdrawal or other changes in price and/or terms without notice.