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Generally, I will help you with this. However, there are several things to consider as you develop your purchase offer: • Is the asking price in line with prices of similar homes in the area? I will conduct research, called a “Competitive Market Analysis” or CMA, on comparable properties, to help you come up with an educated opinion on the worth of the property. • Is the home in good condition – or will you have to spend a substantial amount of time and money making it the way you want it? • How long has the home been on the market? If it’s been for sale for a while, the seller may be more eager to accept a lower offer. • How much mortgage will be required? Make sure you really can afford an offer that you plan to make. • How much do you really want the home? The closer you are to the asking price, the more likely your offer will be accepted.Common Points of Negotiation The buyer and seller may negotiate many of the associated costs of the transaction. Some common items are: price, financing, closing costs, repairs that need to be made, appliances and fixtures, landscaping, painting and occupancy time frame. Counteroffers There are many options to explore: • Maybe you offer more money, but ask the seller to cover some or all of your closing costs or to make repairs that wouldn’t normally be expected. At What Point are Negotiations Considered to be Binding?
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