Determining Your Offer Price

Once you find the home of your dreams how do you go about determining your offer price. The first thing you want to do is write out an offer. This should be a very carefully thought out and in depth offer which includes every detail that pertains to the purchase itself. Buying a home is a major undertaking and should be treated as such. It will likely be one of the biggest purchases in your life and will affect both your and the seller's finances significantly. Try to see yourself as the seller and imagine his or her opinions to every detail you include. This will help you get what you want in the end much of the time.

In the offer you want to include the price you want to pay, your down payment, who is expected to pay the closing costs, how you plan on financing the home, professional home inspections conducted, whether there is any personal property that goes along with the final sale of the home, repairs needed, any timetables needed, cancellation terms, how disputes will be settled should they arise and when you will get possession of the home.

It's worth the hour or so you put into writing out this detailed and well thought out offer because this is a major step in negotiating out the final contract with the seller and will affect the rest of both of your lives.