time (namely, reviewing comparable homes and researching the real estate market). Don’t look like a target. So, don’t make any assumptions.
DO Strategize on Your Offer.
Your first offer should be the best offer! One important piece of making your first offer a fantastic one is doing your reviews and research (“comps”) beforehand; however, it also involves strategizing with your agent on the amount you will be offering, which involves a significant amount of preparation and analysis. Rather than simply responding to the listing price, try to look at it from the perspective of using your own knowledge and research in arriving at your offer. The two aren’t necessarily related. I’ve mentioned the CMA (Comparative Market Analysis) before; you should have this done before making your first offer and ensuring it’s your best offer. Your real estate agent can do this for you. As defined by Investopedia, a CMA is “an examination of the prices at which similar properties in the same area recently sold. Real estate agents perform a Comparative Market Analysis for their clients to help them determine a price to list when selling a home or a price to offer when buying a home.” This valuable information will give an idea of the local average home asking price, which is fundamental information to consider for your first offer. Using your research on comparable home sales and current housing market trends, as well as after you’ve done a CMA, you and your agent can move forward in drafting the best offer.
DO Keep Your Emotions in Check.
This is often a tricky one for homeowners who have already gone through the process of saying goodbye to their longtime family home, and then, after going through the home-search process,
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