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Boy, now this is an area where a crystal ball could make a guy a fortune. Not
having access to a dependable, accurate crystal ball, one needs to rely on the
advice and experience of his or her Northwest Realty Group agent.
Many factors come into play in the initial offer. Some say always offer 10%
less. Unfortunately, this route could end you up in second place on that
competitively priced "perfect" home for your needs. And, second place is no
fun.
Things to consider are:
- How long has the property been on the market?
- If a new listing, how competitively priced is the property? we've had
situations where the home was so well priced, multiple offers are received
within days. In this situation, offering a few hundred dollars over list
made the difference in owning versus second place. In other situations, it's
obvious the property is $20,000 overpriced and a lower offer can be justified
and submitted with documentation to back the offer up.
- Current market conditions can play a big factor. A Northwest Realty Group agent active in the
local market knows what's going on in the market and can advise you accordingly.
The best advice we would give in what to offer the Seller is "get good advice
and listen to it!" Too low of an initial offer could insult the Seller. Too
high, and you may be leaving money on the table. This is when you could benefit
from the experience of a Northwest Realty Group agent.
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