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Making an Offer

Before your NextHome agent prepares your offer there are some key things that they will discuss with you to determine what is the offer to make that you will be most comfortable with.

1) Are you Pre Qualified? Before the offer to purchase is created, it is very important that you have been at least pre-qualified or better yet pre-approved by a lender.

This is one of the best negotiating tools a buyer can have. It shows the seller that you are financially able to purchase the home. After you have found the right home, it is time to prepare the offer.

2) Seller Disclosures? When you are buying a home, the seller is obligated to disclose anything they may know about the home they do this through a Seller Property Disclosure Form (SPDS), an Insurance Claims History Report (CLUE) and on a Disclosure Notification form. The sellers agent is also required to disclose any repairs that have knowledge of as well even if the seller tells them not to share this information.

3) Why is the seller selling the house? This question may help you evaluate the “real value” of the property. Is there something about the house the seller does not like? If so, you may be able to adjust the purchase offer accordingly.

4) How much did the seller pay for the home? This question can, in some instances, help the buyer negotiate a better deal-maybe. However, it is important to remember that the purchase price is influenced by several factors, like the current market value and any improvements the seller may have made to the home. The original purchase price might not have anything to do with the current value of the house.

5) Has the seller had any problems with the home in the past? The disclosure statements should explain any problems the seller had in the home, although some It is also a good idea to ask the seller if he or she has had any problems with the home while living there. Has the seller had problems with a leakage from the upstairs bedroom in the past? If so, even if the leak has been corrected, the floor and walls around the bathroom might have been damaged. You should also check that these items were repaired properly.

6) Are there any nuisances or problem neighbors? Use this answer to find out about any noisy neighbors, barking dogs, heavy airplane traffic or even planned changes to the community, such as a planned street widening. This may give you insight on why the seller is really moving.

7) Research the schools in the area? Because the value of a community is can be influenced by the schools in the area, finding out the buyer’s perception can give you some insight about the quality of the area’s schools.

Knowing all you can about a prospective home, not only helps you decide if it’s the home of your dreams, but what offer to make as well. Your real estate professional can help you get your key questions answered and give you advice on how to evaluate your findings.