What to Consider Before Making an Offer on an Erath County Home

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Erath County real estateHome prices are going back up and the market is transitioning from a buyers’ market to a sellers’ market. If you’re still in the market to buy, here are some key tips to remember before making an offer on a Erath County, Texas home.

  • Do research on comparable home sales in the neighborhood. You may not want to offer asking price if houses in the area are going for under what they’re worth. However, whatever the asking price, don’t lowball the seller. Make a reasonable offer for the area, which could be $10,000-$15,000 under market value unless you have a lot of competition for the home. If you lowball home sellers too far, they won’t want to do business with you.
  • Find out why the home is being sold. Is the seller being forced into short sale due to financial troubles? Are they up against a moving deadline? The key is finding a point of leverage in the sale, according to investing website invest-2win.com. If you have leverage, you can negotiate a better deal because sellers will be more flexible on price if they absolutely must sell the house or be out by a certain date. However, if the seller is at a point of leverage, such as having a lot of offers on the home, or market conditions favorable to the seller, you might want to make a higher initial offer on the home and be more compromising in your negotiations.
  • If your negotiations for your Erath County home are going well, ask the seller to include closing costs in the price of the house. Adding closing costs in with a 20% down payment will most likely be better for you than putting down 5% and paying all of the costs up front. Including it with the price of the home makes for a more streamlined transaction that will be easier on all parties involved.

The best thing to do when buying a Erath County, Texas home, however, is to consult a professional real estate agent. We have helped countless people find their Erath County dream homes, and we would love to address any and all questions you have regarding Erath County -area real estate.

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“Eric & Jamie Hayden were great to work with. They are very responsive and know the area well. They have a great team around them that made the process of selling very easy. We were out of state during the sale and they went above and beyond to assist in coordinating with us. Definitely recommend!”
Melissa