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Determine an Offer Price

Once you've found the house you want to pursue, the next step is to make the seller an offer to purchase the home.  Although there are many terms to consider and negotiate within your offer, the purchase price is perhaps the most notable.  Your real estate agent will help guide you in your decision of where to start price negotiations.  Here are some items to consider when determining what to offer.

  • Comparables:  Your agent should provide you with information on the comparable properties that have sold within the past 6 months that are similar in size, location, and overall condition.  Having access to this information will play a big role in  determining what the market value of the home may be, and more importantly helping you determine what you think the property is worth.Determine an offer price | How much do I offer

  • Property Condition:  The overall condition of the property can greatly affect its perceived value.  If a home is in great shape and shows beautifully, it will likely sell for a price near the higher end of the comparable sold listings.  If the property is in poor condition, it will likely sell on the lower end.  Homes needing new paint, flooring, or appliances may justify a lower offer, whereas homes that have recently been upgraded or include newer appliances may be well worth the price they are asking.

  • Concessions:  If you are going to ask the seller to make certain concessions, such as pay for your closing costs or throw in appliances, you may find they will be less willing to negotiate on the overall purchase price.  Concessions ultimately reduce the seller's net proceeds from the sale.  In turn, such requests directly affect price negotiating power.

  • Multiple Offers:  If there are no other offers on the table,  you may be able to start your offer out on the lower end.  This will allow you to see if the seller has any wiggle room to negotiate a lower price with more favorable terms.  On the opposite side of the spectrum, if you decide on a home that has other offers, you are essentially in competition with other buyers.  In this case, you should make your first offer your highest and best offer.  When trying to decide on a price to offer in a multiple offer situation, we usually encourage buyers to find a price that they would be happy paying should their offer be accepted and that would they would not regret should their offer be rejected.

Determining the right price to offer can be tricky.  But, with a little bit of research, assistance from a real estate professional, and an understanding of the seller's motivations, you can hopefully make an fair offer that the owner is unlikely to refuse.

 

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Newest Boise Area Homes for Sale

403 E Reserve St, Boise image
403 E Reserve St, Boise $919,900

Own a piece of history! Simply elegant Queen Anne style;built in 1893 "The Jones House" was historically moved in 2017 & perfectly restored to its original charm at the b...

  • 3 Beds
  • 2 Baths
  • 1,459 SqFt.
  • 0.126 Acres
  • 98849227 MLS
4500 Five Mile Rd, Boise image
4500 Five Mile Rd, Boise $759,900

3 SHOPS!! Hard to find 1 acre property in SW Boise. Remodeled 3 bdrm, 3 bath home w/attached heated shop, .5 bath, w/car lift. And 50' x21' RV/shop w/2overhead doors, gas...

  • 3 Beds
  • 3 Baths
  • 2,096 SqFt.
  • 1.02 Acres
  • 98849228 MLS
2662 N Westland Place, Boise image
2662 N Westland Place, Boise $400,000

Nestled in a quiet cul-de-sac sits this adorable home. This home creates a feeling of warmth when you enter the door. The main living area allows for ample natural light...

  • 3 Beds
  • 2 Baths
  • 1,249 SqFt.
  • 0.14 Acres
  • 98849222 MLS
6426 E Bear Ridge Street, Boise image
6426 E Bear Ridge Street, Boise $729,000

The Cordova is one of Eaglewood Homes' most popular designs! The contemporary exterior is beautifully designed with excellent attention to detail. The Cordova is a versat...

  • 4 Beds
  • 3 Baths
  • 2,402 SqFt.
  • 0.152 Acres
  • 98849212 MLS
8512 W Orbit Drive, Boise image
8512 W Orbit Drive, Boise $425,000

None

  • 3 Beds
  • 2 Baths
  • 1,367 SqFt.
  • 0.16 Acres
  • 98847310 MLS


Information courtesy of Intermountain Multiple Listing Service. Information provided by IMLS is deemed reliable but not guaranteed. IDX information is provided exclusively for consumers' personal, non‐commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IMLS does not assume any liability for missing or inaccurate data. All listings provided by IMLS are marked with the official IMLS IDX icon.

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"We couldn't be more impressed by the dedicated, professional, custom-tailored services we received from TripleCord Real Estate when we decided it was time to sell our home and buy a new home." ~The Stichkas  

Read more testimonials HERE!

 

 

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3635 S Weathered Ave.
Boise, ID  83706
P: 208-861-5639   
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