What's a good offer price?
After selecting the home you want to make an offer on, our team will supply you with a market analysis that includes similar homes that have sold, expired, cancelled or are actively on the market.
The market analysis will help you to decide what kind of price to offer.
Other conditions to consider:
- How long has the house been on the market?
- What is the condition of the house?
- Are there any other offers currently being considered?
- Are you paying with cash, a conventional loan, va loan, fha, etc.?
- Will your offer be contingent upon sale of another home?
- How quickly can you close?
- How much do you really want the house?
- What can you afford?
How much should I offer in earnest money?
Average: 1% – 3%
Strategy: Where there’s weak demand in the marketplace for a particular kind of property, we have seen earnest money of up to 1% of the purchase price accepted by the sellers. On the flipside, where there is a strong demand in the marketplace, we have seen up to 3% or more demanded by the sellers.
The more the earnest money offered to the seller, the stronger and more desirable the offer appears.
What do I do with the earnest money check?
Our team will add it to the offer near the pre-approval letter.
The physical check will need to be dropped off where the sellers will be holding it in escrow. This could either be the title company or the brokerage. Our team will find out where the sellers will be holding it in escrow. We will also help check the credentials of the firm if we have not already done business with them.